Vietnamese Health Minister visits France
Vietnamese Health Minister Nguyen Thi Kim Tien had a working session with French Minister of Social Affairs and Health Marisol Touraine during her visit to France from 16-18 May.
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Foreign currency deficits compounded the down sides for that logistics industry this year. The dong was devalued by 9.3 percent from the US dollar during the period of the entire year, and several companies in the market complained that foreign currency costs paid for for approximately 1 / 2 of their deficits. Petrovietnam Transportation Corp (PVT), Viet Nam Tanker (VTO), Viet Nam Sea Shipping (VOS) and Viet Nam Ocean Transport and Renting (VST) all reported financial costs of VND200 billion (US$9.5 million) or even more.
Financial forecaster Body mass index has predicted the dong could be devalued by no more than 1.7 percent from the dollar this year. Foreign currency deficits for shipping companies this season would correspondingly fall to around 1/5 or 1/6 of the items these were this year.
With rates of interest stabilizing alongside the foreign currency rate, interest costs for that industry were also likely to decrease this season by about 50 percent in comparison to this past year.
It remains too soon to gauge the general prospects for that shipping industry, however the industry could notice a rebound when the public debt crisis in Europe does not disrupt worldwide trade. The IMF is careful in the forecast for development in global goods trade, predicting a rise rate of just 5.8 percent this year in comparison to 7.5 percent this past year.
Shipping industry may require a couple of more years to recuperate, however with lower financial costs this year, they ought to see great enhancements in profits this season. This is the start for any recovery for that industry, even just before positive signals from elevated freight indices.
Listed shipping companies could be classified into four primary groups akin to their transport capacity. During these groups, we rate Group 1 and Group 2 considerably greater compared to remaining two groups.
Categories of stocks
Group 1 – Number of companies leading in large quantities shipping, for example VOS and VST. This group has advantages in lengthy-term experience in the market, worldwide competition, professional crew teams and re-energized fleets. Hence, these would basically be the greatest stocks throughout the marketplace recovery.
Group 2 – Number of liquid shipping companies with stable capital sources in the parent company, including PVT, Viet Nam Oil Transport (Very important personel) and VTO. With the benefit of stable financial sources in the parent company, this group has barely experienced in the results of the current recession, and can recover more gradually than Group 1.
Group 3 – Number of companies with average transport capacity, for example Vinaship (VNA). This group isn't as competitive as Group 1 but could still work on short routes or transport to some fixed quantity of clients.
Group 4 – Number of companies with weak transport capacity. These businesses are characterised by old fleets operating on short routes. This group is facing the threat of personal bankruptcy or delisting because of consecutive deficits and includes Viet Hai Shipping (VSP), Ha Noi Maritime (MHC), Dong Do Marine (DDM) and Seagull Shipping (SSG).
In comparison towards the VN-Index overall, shipping stocks have observed an in-depth and prolonged recession and haven't yet witness any significant recovery. However, this seems to become the cheapest over time towards the bottom of these stocks, causeing this to be a suitable here we are at purchase of these shares.
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