Vietnam and Cambodia have the fastest port response times in ASEAN

Container shipping in Vietnam and Cambodia had the fastest port response times in ASEAN in June 2022, averaging 0.9 days in both countries, according to a World Bank (WB) report.

Global logistics data released recently in Washington were among new key performance indicators that complement the Logistics Performance Index (LPI) for 139 economies, the World Bank said.

Among the other ASEAN members, Thailand had the second fastest response time at 1.0 days, followed by Malaysia and Singapore (both 1.2 days), the Philippines (1.3 days), Indonesia (1. 8 days) and Myanmar (2.0 days).

In a statement, the bank noted that digitization was allowing emerging economies to cut port delays by up to 70% compared to those in developed countries.

“Although most of the time is spent in shipping, the biggest delays are at seaports, airports and multimodal facilities,” said Christina Wiederer, the bank’s chief economist and a co-author of the report.

“Policies targeting these facilities can help improve reliability,” he added.

With 4.3 points, Singapore ranks first, both in ASEAN and in the rest of the world. It is followed by Malaysia (3.6 points), Thailand (3.5 points), the Philippines and Vietnam (both with 3.3 points) and Indonesia (3.0 points). Myanmar classification is not available.

Despite challenges like COVID-19, the bank said logistics services were “broadly resilient” for top and bottom performers around the world.

Container shipping in Vietnam and Cambodia had the fastest port response times in ASEAN in June 202

“Even with the disruptions to shipping induced by the COVID-19 pandemic and the global supply chain crisis, the overall median score in the LPI 2023 was virtually the same as in the last survey in 2018,” he said.

The IPV consists of six indicators: efficiency of customs clearance and border management, quality of trade and transport infrastructure, ease of organizing shipments at competitive prices, competition and quality of logistics services, ability to track and trace shipments , and frequency of punctual deliveries.

April Consumer Price Index in Vietnam down 0.34% MoM

Recently, the world’s leading shipping companies have invested in the construction and operation of seaports in Vietnam.

With 4.3 points, Singapore ranks first, both in ASEAN and in the rest of the world. It is followed by Malaysia (3.6 points), Thailand (3.5 points), the Philippines and Vietnam (both with 3.3 points) and Indonesia (3.0 points).

For example, UAE’s DP World Group invested in and operates Saigon Premier Container Terminal (SPCT) – HCM City; SSA Marine Corporation of the US with Cai Lan International Container Terminal (CICT) in Quang Ninh Province and SP-SSA International Terminal (SSIT) in Ba Ria-Vung Tau Province; PSA Group of Singapore with SP-PSA Terminal at Ba Ria-Vung Tau; APMT Group of Denmark with Cai Mep International Terminal (CMIT) and Hutchison Port Holding Group of Hong Kong with SITV Terminal also in Ba Ria-Vung Tau.

The improvement of port services and the growing demand for maritime transport have attracted large shipping companies to open routes from Vietnam to other countries in the world. The Lach Huyen pier can accommodate vessels of up to 132,000 dwt and the Cai Mep – Thi Vai pier, 214,000 dwt or more than 18,000 TEU. About 40 ships leave the Cai Mep – Thi Vai terminal every week, 18 of them bound for Europe and America, and 10 for Asia, gradually making Vietnam an important link in the global maritime chain.

Direct service routes connecting major world markets will create opportunities for Vietnamese exports. Response time for service routes from Vietnam to the US West Coast used to be 35-49 days. With the direct service route AA3, operated by Wan Hai Shipping Company, the transit time is only 21 days. The USCW service of the ZIM shipping company has the fastest route connecting the port of Cai Mep – Thi Vai with the US west coast, with a transit time of 15 days.

The Ministry of Transport approved a contractor selection plan for site survey consultancy, plan preparation and bomb disposal to upgrade the Cai Mep – Thi Vai port complex from Buoy No. 0 to the Container Terminal Cai Mep.

The project works started at the beginning of February 2023 and will be completed in 2025, with a total investment capital of VND 1.4 trillion from the state budget.

According to the Ministry of Transportation, the navigation channel from buoy no. bidirectional operations.

Article republished from the Vietnamese state media VNA in the framework of an agreement between both parties to share content. Link to the original article: https://en.vietnamplus.vn/vietnam-cambodia-have-fastest-port-turnaround-times-in-asean-wb/252424.vnp

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