Vietnam martime giant VIMC targets logistics cost reduction, 'smart port' overhaul

State-owned shipping group Vietnam Maritime Corporation (VIMC) plans to convert all of its ports into “smart ports” to reduce logistics costs and improve efficiency, said general director Le Anh Son.

VIMC maintained strong momentum in 2025, with seaborne cargo volume reaching 21.5 million tons, up 11% from a year earlier, while throughput at its ports rose 12% to 162 million tons. Revenue increased by nearly 8% compared with 2024.

"In 2026, escalating tensions in the Middle East have pushed fuel costs sharply higher, with bunker fuel prices rising by as much as 2.4 times, forcing a reassessment of transport contracts," Son told a government conference on Friday.

Despite the pressure, VIMC aims to cut logistics costs in line with Prime Minister Pham Minh Chinh's request and sustain double-digit growth, targeting a 10.5% increase in shipping volume and an 11% rise in port throughput, with revenue expected to grow by at least 10% this year.

"To achieve these goals, the company is accelerating digital transformation, with a plan to convert 100% of its ports into smart ports by the end of the current term," he added.

Automation is expected to streamline administrative procedures and reduce cargo handling and storage costs. At major hubs such as Hai Phong and Ho Chi Minh City, VIMC ports are already offering some of the lowest service fees in the market.

The company is also integrating artificial intelligence and automation into port and shipping operations to optimize data management and further cut costs, Son said.

Previously, at a recent conference with the Central Policy and Strategy Committee, VIMC had highlighted Vietnam’s heavy reliance on road transport as a key factor driving high logistics costs, calling for greater investment in alternative transport modes.

Son urged the government to prioritize funding for inland waterway infrastructure, particularly in southern Vietnam, where an extensive network of rivers and canals remains underutilized despite being one of the largest in the world.

At the same time, he highlighted the need to strengthen rail freight capacity. Vietnam’s railway network is largely concentrated along the north-south axis, with limited connections linking industrial zones in southern provinces such as Tay Ninh, Binh Duong, Binh Phuoc, Ho Chi Minh City, and Dong Nai to ports in Ba Ria-Vung Tau.

VIMC is working with foreign partners to develop cross-regional transport solutions connecting industrial centers to seaports, aiming to lower logistics costs for the broader economy, he added.

State-controlled Vietnam Maritime Corporation (VIMC) has outlined plans to invest nearly VND13.8 trillion ($527.45 million) to co-develop the Can Gio international transshipment port, one of the country’s most ambitious port projects, as it seeks to expand capacity and capture long-term growth in regional logistics.

According to documents prepared for its 2026 AGM, VIMC (UPCoM: MVN) will partner with its subsidiary Saigon Port Corp and Terminal Investment Limited Holding (TIL) – an affiliate of global shipping group MSC, to establish a project company for the development.

VIMC is expected to hold a 36% stake, while Saigon Port will own 15% and TIL 49%.

Located in Can Gio in Ho Chi Minh City, the port is designed to handle ultra-large container vessels of up to 250,000 DWT. The project will feature a total berth length of around 7.2 kilometers and a designed capacity of 16.9 million TEU annually across an area of 571 hectares.

The consortium submitted its application in early March and is awaiting regulatory approval, following prior in-principle endorsement from the prime minister in January.