Vietnam shipping firm Hai An plans to issue $21 mln in bonds
Vietnam’s Hai An Transport and Stevedoring JSC plans to issue a maximum of VND500 billion ($21.3 million) of private placement bonds from 2023-2024.
The figures will be officially released at the company's annual general meeting of shareholders (AGM) on June 20.
The company, listed on the Ho Chi Minh City Stock Exchange (HoSE) as HAH, said the bond term is expected to be four to five years with fixed interest of up to 6% a year. The proceeds will be used to build new ships.

Hai An port in Hai Phong city, northern Vietnam. Photo courtesy of the company.
In 2023, Hai An has targeted total revenue of VND2.96 trillion ($125.98 million) and post-tax profit of VND492 billion ($20.95 million). Total output will reach 1,006,000 TEU (twenty-foot equivalent unit), of which port operations will account for 418,000 TEU, container transport 396,000, and depots 192,000.
Hai An is looking to increase its market share of container transport and the scope of operations on domestic routes, together with the ZIM-HAIAN, a joint venture with Israeli marine carrier ZIM, to develop inner-Asia routes to ensure the fleet operates profitably.
The company also plans to continue implementing a project to build three new ships of 1,800 TEU (Bangkok Mark IV) at an estimated cost of VND2 trillion ($85.15 million), and continue looking for suitable used ships when there is an opportunity.
In the first quarter of 2023, Hai An reported revenue of VND655.14 billion ($27.89 million), up 0.4% year-on-year, and after-tax profit of VND126.37 billion ($5.38 million), down 51.9%.
Hai An said that output and operating revenue decreased due to upgrades and repairs to yards, while the number of ships in its fleet rose to 11 from nine. Meanwhile, exploitation output decreased; sea freight and ship chartering prices dropped sharply compared to the same period last year, and expenses rose, leading to a sharp profit drop.
Hai An, headquartered in Hai Phong city with offices across Vietnam, has been involved in domestic shipping in Vietnam for over 10 years and is today one of the largest liners in the country.
It is also engaged in a wide range of marine and logistics-related activities including terminal operations, offshore services, container depot operations, and warehousing.
At the closing session on Tuesday, HAH shares finished at VND44,100 ($1.88) per unit.
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