On March 9, 2022, the stock market was almost flat, VN-INDEX increased by 0.03 points. However, the shipping industry still accelerated strongly with many stocks hitting the ceiling price.

Sea freight rates have tended to recover after a sharp decline since early February and geopolitical tensions between Russia and Ukraine continue to escalate, and ocean freight rates will continue to increase in March 2022.

On March 8, US President Joe Biden banned the import of Russian oil and gas, and the British government announced that the country would stop “importing oil” and products processed from Russia by the end of the year. this year. British Shell has announced that it will withdraw from projects in Russia and will not buy oil and gas from this country.

Although the European Union (EU) did not follow, it announced a plan to cut Russia’s gas imports by two-thirds within a year.

With an output of 10 million barrels of crude oil per day, Russia currently meets about 10% of global demand and is Europe’s largest supplier of natural gas with nearly 40% of Europe’s gas needs. . The sanctions imposed on Russia caused concern that crude oil and gas supplies from Russia would shrink, causing oil and gas prices to continuously escalate.

Currently, Brent oil has increased to 131 USD/barrel when the US issued a ban. WTI oil also rose to $127.

Escalating oil prices increase input costs of shipping companies, so sea freight rates must also be adjusted.

Furthermore, sanctions and retaliation exacerbate supply chain disruptions. Recently, the three largest shipping lines in the world MSC, Maersk, CMA CGM announced a temporary suspension of cargo transportation to and from Russia, which may push up ocean freight rates. On March 8, the BDI freight rate increased by 117 points, equivalent to 5.23% to 2,352.

Besides, the growth in import and export due to economic recovery and reopening of trade of countries around the world creates a driving force for port and shipping enterprises.

According to a report by Everest Securities Joint Stock Company, in the first two months of 2022, the total import and export turnover of goods was estimated at 108.52 billion USD, up 13% over the same period last year, specifically: export turnover of goods. estimated at 53.79 billion USD, up 10.2% over the same period last year, import turnover was estimated at 54.73 billion USD, up 15.9% over the same period last year. In summary, the trade balance of goods is estimated to have a trade deficit of 937 million USD (the same period last year, there is a trade surplus of 1.6 billion USD).

The higher freight rates have been reflected in the share price. It is estimated that within a month, from February 7 to the end of March 7, VNA stock price of Vinaship Shipping Joint Stock Company increased by 87%, the highest increase in the port and shipping industry. Following behind is VOS of Vietnam Shipping Joint Stock Company with an increase of 54%, HAH of Hai An Transport and Handling Joint Stock Company with an increase of 48%. Others also recorded an impressive increase such as GMD of Gemadept Joint Stock Company up 28% and VSC of Vietnam Container Joint Stock Company up 21%. Especially in session 9/3, a series of stocks in this industry group hit the ceiling price such as GMD, VSC, VOS, HAH.

T&G International Joint Stock Company

Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi

Hotline: 0345786803

Email: hrm@tginterjsc.com

Website: http://tginternationaljsc.com