Following a recent decline in line with the broader market correction, seaport and shipping stocks are rebounding thanks to a positive industry outlook and rising shipping rates.

During the trading session on November 12, while the VN-Index fell for the fourth consecutive session to 1,244 points, several seaport and shipping stocks such as MVN (VIMC), VOS (Vietnam Shipping) and GMD (Gemadept) maintained upward momentum.

In particular, on November 11, as large-cap sectors like banking, real estate, securities, retail and energy declined, seaport and shipping stocks showed positive movement, with a significant increase in liquidity. MVN hit the daily ceiling for two consecutive sessions, reaching a four-month high. Over just four sessions, MVN surged by nearly 40 per cent, with its market capitalisation gaining approximately VNĐ15 trillion, exceeding VNĐ51.8 trillion (over US$2 billion).

Liquidity surged across these stocks, especially VSC, VOS, HAH, DXP and GMD, with VSC seeing a trading volume of nearly seven million shares — four times the previous session.

The surge in seaport and shipping stocks is attributed to strategic partnerships by the Vietnam Maritime Corporation (VIMC) with international partners. At a Việt Nam–China business forum in Chongqing on November 8, Prime Minister Phạm Minh Chính witnessed the signing of a strategic cooperation agreement between VIMC and Sinotrans. VIMC also recently signed partnerships with DP World in the UAE and Switzerland's MSC Group to develop the Cần Giờ International Transshipment Port and operate international container terminals in Hải Phòng.

According to a report by Yuanta Vietnam Securities, major shipping companies view Việt Nam as a key destination with significant potential for the seaport industry. APM Terminals (under Maersk) and TiL (under MSC) have expressed interest in investing in deep-water container ports and strategic logistics projects in Việt Nam.

The Lạch Huyện port area is seen as a promising location. Currently, the HICT port (operated by Saigon Newport Corporation) manages berths 1 and 2, with an annual capacity of 1.1 million TEUs. Berths 3 are under development, with significant capacity expansion expected in the coming years.

VCBS Securities recommends investors consider key stocks such as Gemadept (GMD), Hải Phòng Port (PHP), and Saigon Port (SGP). Gemadept (GMD) is projected to achieve VNĐ4.177 trillion in revenue for 2024, an 8.6 per cent year-on-year increase, primarily from port operations, with expansions underway at Gemalink phase 2A and Nam Đình Vũ Port. Hải Phòng Port (PHP) anticipates 2024 revenue of VNĐ2.354 trillion, a 9.2 per cent rise, supported by its collaboration with MSC in operating Lạch Huyện berths 3 and 4. Meanwhile, Saigon Port (SGP) is expected to reach VNĐ1.050 trillion in revenue, up 11.4 per cent, as it focuses on the Cần Giờ International Transshipment Port project, set to begin operations in 2027.

However, these companies face risks, including potential overcapacity, fluctuations in shipping rates and possible delays in key projects.

Mirae Asset Securities also recommends SGP with a target price of VNĐ31,100 per share and PHP with similar growth potential. — VNS