Vietnam’s Port and Shipping Stocks Gain Institutional Attention as Import-Export Value Rises 27% in First Half of the Year

1. Three port and shipping stocks highlighted by institutions, sector outlook remains positive

According to reports from Vietnamese financial media outlets including Investment Review and Industrial and Trade Brand & Public Opinion, Vietnam Maritime Securities (MBS) released a research report on July 16, recommending investors to focus on three port and shipping stocks: Gemadept (GMD), Hai Phong Port (PHP), and Hai An Transport & Stevedoring (HAH).

MBS believes that the sector has strong growth potential in the second half of the year, supported by trade recovery, rising cargo demand, and continued investment in port infrastructure.

2. Growth drivers: trade recovery, supply chain relocation and infrastructure investment

According to MBS, Vietnam’s import and export activities are expected to maintain growth momentum toward the end of the year, driven by several factors:

• Companies accelerating shipments in response to potential changes in U.S. tariff policies;
• Continued supply chain relocation toward Asia, benefiting Vietnam’s port cargo volumes;
• Expansion and upgrading of domestic port infrastructure.

For the shipping sector, MBS noted that global fleet supply-demand imbalances could benefit companies operating container fleets or regional intra-Asia shipping routes.

Meanwhile, Vietnam’s port system is entering a new investment cycle. Expansion of deep-water ports and optimization of existing facilities are expected to create additional growth opportunities for industry players.

3. Highlights of the three recommended companies

Gemadept (GMD)

Gemadept’s growth is expected to be driven by the official operation of the Nam Dinh Vu Port Phase III project, which will significantly expand handling capacity and contribute to revenue growth.

Meanwhile, the development of Gemalink Phase II and Phase III projects will further strengthen the company’s ability to handle rising cargo demand.

Hai Phong Port (PHP)

MBS expects Hai Phong Port’s river port operations to improve following channel upgrades.

The ramp-up of Lach Huyen Port Berths No.3 and No.4, combined with higher handling fees at deep-water terminals, is expected to support profit growth during 2026-2027.

Hai An Transport & Stevedoring (HAH)

HAH is considered to be preparing for a new growth cycle.

MBS expects 2026 to be a transition year, with stronger performance from 2027 onward, driven by fleet expansion and newly signed freight contracts.

HAH’s share price has increased by 57.58% since the beginning of 2026.

4. Industry data support: First-half trade reaches US$549.7 billion, SSIT surpasses 1 million TEUs

According to Vietnam Customs data, Vietnam’s total import and export value reached approximately US$549.7 billion in the first half of 2026, representing a year-on-year increase of 27.1%.

Exports increased by 21%, while imports rose by 33.4%.

During the same period, SP-SSA International Terminal (SSIT), located in the Cai Mep–Thi Vai port cluster in Ho Chi Minh City, exceeded 1 million TEUs in container throughput.

SSIT currently operates six international services, including:

• Four direct services to the United States;
• One Europe service;
• One Africa service.

On July 12, the terminal handled the vessel MSC La Spezia, completing approximately 7,700 TEUs of container operations and pushing cumulative throughput beyond the one-million-TEU milestone.

To meet rising demand, SSIT is adding two new-generation STS cranes and has received approval to handle container vessels with a deadweight capacity of 250,000 tons, enabling it to accommodate some of the world’s largest container ships.

5. Related development: VietinBank plans to sell its stake in Hai Phong Port

Another development related to PHP is that Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) announced in early July that it plans to sell all 6.94 million PHP shares, representing 2.12% of total outstanding shares, through public auction.

The starting auction price is set at VND40,048 per share.

The move is part of VietinBank’s long-term divestment strategy and does not represent a negative view of Hai Phong Port’s business outlook.

In the first quarter of 2026, PHP recorded net revenue of VND745 billion, up 29% year-on-year, while after-tax profit reached VND310.65 billion, more than doubling from the previous year.

Industry Perspective

MBS’s recommendation of GMD, PHP and HAH reflects broader expectations regarding Vietnam’s trade recovery and port infrastructure expansion.

For Chinese shipping companies and logistics operators, the development of Vietnam’s port and shipping sector highlights the continued deepening of supply chain relocation toward Southeast Asia.

The expansion of the Cai Mep–Thi Vai port cluster and SSIT’s growing international connectivity indicate that Vietnam’s port service capacity and shipping network are strengthening, which may create competitive pressure on some southern Chinese ports in terms of regional transshipment cargo.

Market participants are advised to monitor Vietnam’s port infrastructure development and shipping route adjustments by carriers to evaluate their long-term impact on regional capacity allocation.