Many businesses are stepping up investment to expand seaport exploitation capacity.
Business results improve
According to the General Statistics Office, in the first 10 months of 2025, the total import-export turnover of goods nationwide reached 762.44 billion USD, up 17.4% over the same period last year. Of which, exports increased by 16.2% and imports increased by 18.6%, helping trade activities through the seaport system maintain a bustling pace, creating leverage for positive business results of port operators.
The financial report for the third quarter of 2025 of Vietnam Container Joint Stock Company (Viconship, code VSC ) shows that net revenue increased by VND 134.9 billion, equivalent to an increase of 19% over the same period last year, thanks to the business activities of its subsidiaries, especially VIP Green Port and Nam Hai Dinh Vu, which recorded growth in both revenue and profit; at the same time, service prices were adjusted to increase by 5-10% in August. Along with a sharp increase in financial revenue from securities investment interest, Viconship recorded VND 113.4 billion in profit after tax in the third quarter, an increase of 45% over the same period.
In the first 9 months of the year, the revenue of all 3 ports in the Viconship ecosystem (Xanh, Xanh VIP and Nam Hai Dinh Vu) grew, notably the container throughput through Nam Hai Dinh Vu Port increased by 109% over the same period. Since completing the transfer of Nam Hai Dinh Vu Port in July 2024, by the third quarter of 2025, the container occupancy rate here has reached over 80% of the design capacity. Thanks to that, Viconship's 9-month after-tax profit reached 373.3 billion VND, up 55% over the same period.
The last months of the year are the peak season for import and export, creating opportunities for seaports to optimize capacity and increase output.
Also in the Northern port system, Hai Phong Port Joint Stock Company (code PHP) recorded VND 700 billion in net revenue in the third quarter of 2025, up 7% year-on-year, but profit after tax decreased by 21% to VND 296.4 billion. However, the main reason was that in the third quarter of 2024, the Company recorded an extraordinary profit from divestment at Vietnam Maritime Commercial Joint Stock Bank and compensation for land acquisition support at a subsidiary. If excluding unusual factors, core profit from port operations in the third quarter of 2025 reached VND 291 billion, up 47% year-on-year.
At Hai An Transport and Stevedoring Joint Stock Company (Hai An, code HAH), revenue from port operations reached VND159.2 billion in the third quarter of 2025, up nearly 25% over the same period. Along with the introduction of two more ships Gama and Zeta into operation, the maritime transport segment contributed positively to net revenue reaching VND1,347.7 billion, up 19%. Profit after tax reached VND353 billion, up 27%. By the end of September 2025, Hai An recorded VND1,041 billion in profit after tax, 2.3 times higher than the same period.
In the Central region, Da Nang Port Joint Stock Company (code CDN) recorded net revenue in the third quarter of 2025 of more than VND 416 billion, up 13% over the same period; profit after tax reached VND 111.7 billion, up 40.5%. The company said that the volume of goods passing through the port in the third quarter increased by 13.45%, leading to a sharp increase in service revenue. In addition, the policy of exempting land rent from 2024 has helped significantly reduce operating costs. In the first 9 months, Da Nang Port achieved VND 292.9 billion in profit after tax, up 28%.
Quy Nhon Port Joint Stock Company (code QNP) recorded net revenue in the third quarter of 2025 of VND 302.8 billion, a slight increase over the same period; profit after tax reached VND 35.1 billion, an increase of 38.4%. Accumulated profit after tax for the first 9 months was equivalent to the same period, reaching over VND 100 billion.
In the Southern region, Dong Nai Port Joint Stock Company (code PDN) recorded VND404.9 billion in revenue in the third quarter of 2025, an increase of approximately 21% over the same period, thanks to the exploitation of additional iron and steel output, steel billets, coils, etc., along with investment in upgrading infrastructure and equipment, helping to reduce cargo congestion at the port and optimize loading and unloading productivity. As a result, profit after tax in the third quarter reached VND108 billion, an increase of 20%; accumulated profit for 9 months reached VND333 billion, an increase of 28%.
Meanwhile, Saigon Port Joint Stock Company (code SGP ) recorded VND275.3 billion in port revenue in the third quarter of 2025, up 54% over the same period, which was the main driving force for net revenue to VND330 billion, up 35%. Thanks to the decrease in cost of goods sold and the sharp increase in financial revenue, after-tax profit reached VND171 billion, 26 times higher than the same period; accumulated profit for 9 months reached VND387.8 billion, 3 times higher than the same period.
Gemadept Joint Stock Company (code GMD) - the company that owns a port system across the country - announced that its consolidated net revenue in the third quarter of 2025 reached more than VND 1,560 billion, up 23% over the same period. However, due to a sharp increase in costs, profit after tax decreased slightly, to more than VND 432 billion. Accumulated for 9 months, net revenue reached VND 4,331 billion, up 27%; of which, port exploitation revenue increased by 31%, to VND 3,820 billion. As a result, profit after tax for 9 months still increased slightly, reaching more than VND 1,564 billion.
Expanded capacity, new cycle service prices
The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) has returned above 50 since July and reached 54.5 in October 2025, reflecting a sustained expansion in manufacturing. Output and new orders both rose sharply, amid business confidence reaching a 16-month high.
The last months of the year are the peak season for import and export, when domestic and international consumption demand increases sharply to serve the festive season, creating a golden opportunity for seaports to optimize capacity and increase output.
Grasping this trend, many businesses have stepped up investment to expand their operating capacity. In the North, Gemadept has accelerated the progress of Nam Dinh Vu Port Phase 3, welcoming the first commercial ship at the end of September 2025, earlier than the original plan (early 2026). The project has a capacity of 800,000 TEU/year, expected to expand 60% of Nam Dinh Vu Port capacity and 23% of the entire Gemadept system capacity.
In the South, Gemalink Phase 2A with an investment capital of nearly 200 million USD is expected to add 600,000 TEU/year from 2027, increasing the port's operating capacity by 50%. Gemadept is currently completing legal procedures for implementation.
The consortium between Saigon Port Joint Stock Company and Terminal Investment Limited Holding SA is proposing to invest in the Can Gio International Transit Port project at the Thi Vai River mouth, opposite the Cai Mep - Thi Vai deep-water port cluster. The project has been approved by the Prime Minister in early 2025. Currently, the parties are coordinating with the Ho Chi Minh City People's Committee and ministries and branches to speed up the investor selection process.
The growth momentum of the seaport industry also comes from Decision No. 1922/QD-BXD dated October 31, 2025 of the Ministry of Construction on the Detailed Planning for the development of land and seaport areas of Ba Ria - Vung Tau (formerly) for the period 2021-2030, with a vision to 2050, affirming the strategic position of the region in the national and Southeast Asian seaport system.
Besides, the price of loading and unloading services at Vietnamese seaports is still 60-70% lower than the regional average, showing that the potential for price adjustment is still large.
According to Mr. Hoang Hong Giang, Deputy Director of the Vietnam Maritime and Waterways Administration (Ministry of Construction), although the price framework has a ceiling and floor, many businesses still compete to lower prices, creating an unhealthy environment.
Faced with this situation, the Vietnam Maritime Administration is reviewing the price framework for container loading and unloading services nationwide, synthesizing business opinions to report to the Ministry of Construction for consideration and adjustment, in order to harmonize the interests between the State, businesses and the market, creating a driving force for sustainable development for the seaport industry.
Adjusting loading and unloading service prices, if implemented, will help businesses improve revenue and profit margins in the context of constantly increasing costs of infrastructure investment, equipment and labor.