Hai An Stevedoring (HAH) - Expected to spend 92 million USD to build 2 new ships

The Board of Directors of Hai An Transport and Stevedoring Joint Stock Company (stock code HAH - HoSE) has just approved the plan to build 02 new container ships in China with an average tonnage of 2,300 TEU/ship to serve the medium and long-term business development plan when expanding services to the Mediterranean - Europe and/or the West Coast of the United States.

The total maximum investment capital for this plan is 92 million USD (about 2,400 billion VND). The Board of Directors of Hai An Unloading also said that the investment capital will be arranged by the company through loans from credit institutions, financial institutions and other capital sources; or presented to shareholders to mobilize additional capital through the issuance of shares and bonds.

This is the latest move by Hai An Unloading in implementing the strategy of expanding the fleet size combined with increasing penetration into the international transport market. Notably, the 02 newly built container ships are expected to have a significantly higher carrying capacity than the average of the company's existing ships (1,200 - 1,700 TEU).

As of the end of April 2025, Hai An Unloading owns a fleet of 17 container ships, with an output of about 1 million TEUs/year.

Hai An Stevedoring's management board said that service routes to the Mediterranean - Europe and/or the West Coast of the US are long-distance routes, requiring large fleet capacity and strict international standards, but these are also routes with high demand for cargo transportation, opening up the potential for large volumes of work.

Recently, Hai An Stevedoring has also officially launched an international container shipping service connecting Ho Chi Minh City - Hai Phong - Lianyungang (Lianyungang, China). Lianyungang is currently one of the 10 largest seaports in China, connecting to ports in 160 countries and territories.

See more: "What does Hai An Stevedoring (HAH) say about Vietnam Container (VSC) increasing its ownership ratio?" on Industry and Trade Magazine here.

As of the end of April 2025, Hai An Stevedoring owns a fleet of 17 container ships, with an output of about 1 million TEU/year, accounting for about 68% of the total capacity of the country's container fleet. Data from the shipping service company Alphaliner (France) shows that Hai An Stevedoring is currently in the TOP 100 largest container fleets in the world.

In addition to expanding the fleet, Hai An Stevedoring is also strengthening cooperation with partners, typically with Vietnam Container Joint Stock Company (Viconship, stock code VSC) to exploit the customer base using services at Vietnam Container ports.

In terms of business results, although the financial report for the second quarter of 2025 has not been announced, Hai An Stevedoring's board of directors estimates that the company's revenue in the first half of this year will reach more than VND 2,500 billion, an increase of more than 50% over the same period last year, and after-tax profit will triple, reaching VND 550 billion.

This year, this port - shipping enterprise sets a target of total revenue of VND 4,556 billion and consolidated profit after tax of VND 865 billion, up 13% and 8% respectively compared to the actual level in 2024. Thus, it is estimated that Hai An Stevedoring has completed 63.5% of the annual profit target after 6 months.