The southern region accounts for more than 70% of container throughput through the country’s seaports, acting as an economic bridge. In particular, over the last five years, the Cai Mep – Thi Vai area has shown consistent double-digit growth, this is the world’s greatest growth rate. Among the ports in Cai Mep – Thi Vai port cluster, Gemalink port has the largest capacity and has just been put into operation, which is a key driving force for Gemadept to develop more and more in an integrated port-logistics ecosystem.
Gemadept’s new development phase
As a new member in the chain of 8 ports from North to South of Gemadept, Gemalink’s superb deep-water port has the most strategic location for the leading deep-water port operation in the country. In particular, the port possesses outstanding characteristics compared to other ports in the same Cai Mep – Thi Vai area from its prime location at the sea mouth, located on the international maritime route to the total length of main berths almost 1,2km. The port has a separate dedicated berth for Feeder and river ships to ensure simultaneous handling of all 3 motherships and river vessels at the same time.
Gemalink Port operates at the “golden time” of the market, meeting the urgent needs of a series of large shipping lines and the trend of moving goods to Cai Mep port area. Therefore, it is expected that Gemalink port will continue to create a new miracle for a Vietnamese seaport, making a profit in the first year of operation – something very few seaports in the world can do.
Gemadept is on a journey to become a leading corporation in Vietnam in the integrated port logistics ecosystem. Along with the satellite port system, Binh Duong port and Phuoc Long port are connected by internal waterways. Gemalink deep-water port in particular and Gemadept’s integrated port-logistics ecosystem, in general, are gradually contributing to reducing costs and shortening the time it takes to bring Vietnamese goods directly to the US and Europe.
Gemadept: Strong and sustainable growth plan
Gemadept has confidently defined its business plan for 2021 based on two scenarios in light of economic swings and obstacles in 2021. In the most optimistic scenario, consolidated revenue is predicted to reach VND 2.800 billion, with a pre-tax profit of VND 700 billion, up 7% and 37% from 2020. In the medium scenario, revenue is expected VND 2.700 billion and pre-tax profit of VND 630 billion, up 4% and 23% respectively compared to 2020. It can be seen that in any scenario, Gemadept’s growth plan is quite impressive.
Looking back over the last five years, Gemadept has always pursued a hard expansion strategy with zeal. In the future 2021-2025 period, the corporation has set a target of three times higher output and profit before tax in 2025 compared to 2020, resulting in average annual growth of 24 percent when the growth objective of Vietnam’s five-year average GDP is at 6.5 – 7 percent.
Along with continuing to be determined to focus on preparing to deploy phase 2 of Gemalink deep-water port and phase 2 of Nam Dinh Vu port from the end of 2021, the Company will promote port – logistics activities. maximize and expand the service chain to optimize the profit per container through the system; towards the complete development of a greener and more sustainable integrated port-logistics ecosystem.