Vietnam National Shipping Lines has just divested all its capital at SSG.

Vietnam National Shipping Lines has just announced the sale of 1.32 million shares it owns at Hai Au Shipping Joint Stock Company (stock code: SSG) to collect nearly 30 billion VND.

Previously, Vietnam National Shipping Lines announced its divestment from Hai Au Shipping Joint Stock Company by negotiation and order matching during the period from January 22 to February 20. However, in information sent to the Hanoi Stock Exchange, Hai Au Shipping Joint Stock Company said that all 1.32 million shares were distributed to 2 domestic investors by auction held on January 29.

The winning bid is equal to the offering price of VND22,300 per share, nearly VND10,000 per share higher than the market price on the stock exchange. Thus, the total value that Vietnam National Shipping Lines earned from this transaction is approximately VND30 billion. After the transaction, Vietnam National Shipping Lines no longer owns any shares in Hai Au Shipping Joint Stock Company.

Shares of Hai Au Shipping Joint Stock Company have been traded on the UPCoM market since 2011. The company currently has a charter capital of VND50 billion. SSG shares closed the most recent trading session (February 16) at VND12,500, down nearly 7% compared to the reference price. The company's market capitalization calculated at this level is less than VND63 billion.

Information about this divestment was announced by Vietnam National Shipping Lines at the end of January, along with the divestment at Saigon Maritime Corporation (stock code: SHC).

According to this year's business plan, Vietnam National Shipping Lines aims to maintain its market, market share, and customers, focus on developing deep-water ports and container fleets, and continue to promote talent training and human resource development. The expected sea transport output in 2024 is 15.8 million tons (76% of the estimated 2023 implementation, due to liquidation and reduction in the number of ships); seaport output: 123.7 million tons (109% of the estimated 2023 implementation); revenue is 17,742 billion VND (99% of the estimated 2023 implementation); profit is 2,169 billion VND (104% of the estimated 2023 implementation and higher than 2023 due to liquidation of old ships that have fully depreciated).

The Board of Directors of the Corporation forecasts that the shipping market will continue to face many difficulties and challenges as the war continues to escalate in many areas, leading to many consequences, and consumption has not shown signs of recovery, affecting the demand for freight transport. Other factors such as drought in the Panama Canal, attacks on commercial vessels continuously escalating in the Red Sea and Suez Canal will affect the operations of shipping lines and may lead to disruptions in the global supply chain.

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