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Top 10 largest logistics companies in Vietnam (2022 update)

Top 10 largest logistics companies in Vietnam (2022 update)

Monday 22, 08 2022
Thanks to the explosion of e-commerce, the logistics industry in Vietnam in recent years has witnessed rapid development. Logistics businesses, thus, have benefited a lot. According to unofficial statistics, there are currently more than 3,000 logistics companies in Vietnam.

Below is detailed information about the 10 largest enterprises in Vietnam’s logistics industry according to VietnamCredit's assessment based on the revenue and profit scale in the last 3 years.

1. VIETTEL POST JOINT STOCK CORPORATION

Viettel Post Joint Stock Corporation (Viettel Post) was formerly the Press Distribution Center established on July 1, 1997. Its initial mission was to serve the Army agencies in the Ministry of Defense. In 2006, Viettel Post changed from a dependent accounting model to an independent accounting model, and became Viettel Post Office 1 Member State Company Limited. In 2009, Viettel Post officially operated as a joint stock company after successfully implementing the equitization plan through the initial public offering.

On April 13, 2012, Hanoi Department of Planning and Investment issued a certificate of business registration to Viettel Post Corporation.

Viettel Post has focused on investing in the field of delivery. With continuous efforts, Viettel Post has become one of the leading brands in Vietnam in terms of delivery with a series of post offices, operation centers and network in all provinces and cities nationwide.

Domestic and international courier services that ViettelPost is providing include Courier/Express Delivery Service (VCN), Express Delivery Service (VHT), Economic Delivery Service (VTK), Plus Service, Cash on Delivery, Logistic Service, E-Commerce Service, etc.

Viettel Post Joint Stock Corporation

In 2021, Viettel post achieved revenue of 21,452 billion VND, up 24% over the same period and profit after tax reached 295.89 billion VND, down 23% compared to the same period in 2020.

Core service revenue increased by 9% to 7,208 billion VND, which was better than the overall growth of revenue of the entire postal industry of 2% (reported by the Ministry of Information and Communications).

 

2. EXPEDITORS VIETNAM COMPANY LIMITED

Expeditors Vietnam Company Limited was established in 1979. It is a logistics company with headquarters in Seattle, Washington, USA and offices in areas such as London, Dubai, Shanghai, Singapore. Expeditors creates optimized supply chain solutions for customers with unified technology systems integrated through a global network of 322 locations in 103 countries on six continents with over 16,500 employees.

The company satisfies the increasingly sophisticated needs of international trade through customized solutions and seamless information systems, making it easy for customers to transact.

The company's services include air or sea shipping, customs brokerage, supplier consolidation, cargo insurance, time-based shipping, order management, warehousing, distribution and other logistics solutions.

Expeditors Vietnam Company Limited

Data source: VietnamCredit

3. VIETNAM MARITIME CORPORATION

Vietnam Maritime Corporation (VIMC) operates in the field of sea transport, seaport operation and other business related to maritime services. Currently, VIMC is operated under the model of parent-subsidiary company model.

The parent company is a one-member limited liability company owned by the State according to Decision No. 985/QD - TTg dated June 25, 2010 of the Prime Minister. Currently, the parent company has 11 dependent accounting units.

VIMC has 35 subsidiaries (the parent company owns more than 50% of the charter capital), 20 associates (the parent company owns from 20% to 50% of the charter capital) and 15 long-term investment enterprises (the parent company owns less than 20% of charter capital).

The company’s main services include:

- Transport business by sea, waterway, road, multi-modal;

- Operating seaports and river ports;

- Trading in warehouses, logistics services;

- Brokerage agency providing maritime services; ship supply;

- Towing services for seagoing vessels, river ships, crew transfers and support services for waterway operations.

In 2021, VIMC recorded a total revenue of 19,604 billion VND, equaling 124% of the same period in 2020 and 129% of the year’s plan. VIMC's profit in 2021 wass estimated at 3,750 billion VND, equal to 554% of the year plan. This is a really impressive figure when in 2020 VIMC suffered a loss of 145.3 billion VND.

Unlike the previous years when the maritime service was the main profit-making sector, in 2021, VIMC's shipping sector made a huge breakthrough when accounting for 26% of the corporation's profit structure.

Vietnam Maritime Corporation

In 2022, VIMC will prioritize the strategy of developing the seaport infrastructure system, especially deep-water ports and container transshipment ports. This year, the corporation will start construction and deploy the construction of berths 3 and 4 Lach Huyen international container port; and continue to develop seaport projects in Can Gio (Ho Chi Minh City), and Lien Chieu port (Da Nang).

4. DHL GLOBAL FORWARDING (VIETNAM) CORPORATION

DHL Global Forwarding (Vietnam) Corporation was established on 22 May, 2008 by Mr/Ms. Clément Marie Blanc. The company was granted a business license by the Tax Department of Ho Chi Minh City with business registration no. 0305707643.

DHL's presence in over 220 countries and territories around the globe makes it the largest international company in the world. With more than 360,000 employees, DHL offers unlimited solutions for most logistics needs.

DHL is a division of the world's leading postal and logistics company Deutsche Post DHL Group, and includes the business units DHL Express, DHL Parcel, DHL eCommerce, DHL Global Forwarding, DHL Freight and DHL Supply Chain.

DHL Global Forwarding (Vietnam) Corporation .

Data source: VietnamCredit

5. KUEHNE + NAGEL COMPANY LIMITED

Kuehne + Nagel Company Limited is a company with 100% investment capital from Germany. It is a leading company in the field of logistics supply chain with many years of experience in Vietnam, officially established in 2014. Focusing on customer needs, the company provides tailored solutions with outstanding quality to bring the most suitable solutions to customers in Vietnam.

Kuehne + Nagel provides comprehensive logistics solutions for a wide range of industries and trades, including business areas such as ocean freight, air freight, warehousing and distribution, and trucking.

Kuehne + Nagel Company Limited

With nearly 79,000 employees in 1,300 locations in more than 100 countries, the Kuehne + Nagel group is one of the world's leading logistics companies. The company has strong market position combined with a clear target of high-end segment of added value, specifically logistics solutions that integrate information technology platforms.

6. TRANSIMEX CORPORATION

In 1983, Foreign Trade Logistics Company, the predecessor of Transimex Corporation, was established. Since 1990, Transimex has become a member of prestigious international and domestic industry associations including FIATA, IATA, VCCI, VLA.

In March 1996, Transimex was granted a license by the General Department of Customs to establish a bonded warehouse at the company's warehouse area in Truong Tho hamlet, Truong Tho ward, Thu Duc district, Ho Chi Minh City.

In July 1997, Transimex was licensed to put into operation an Inland Clearance Deport (ICD) by the General Department of Customs, and officially put into operation Transimex ICD Port. In January 2000, the company was officially transformed into a joint stock company under Decision No. 989/QD-TTg of the Prime Minister.

On August 4, 2000, the company's shares were officially listed on HOSE with stock code TMS. Since then, Transimex has constantly developed, expanded branches in Hanoi, Hai Phong and Da Nang, and invested in building infrastructure (warehouses, distribution centers). In addition to subsidiaries, Transimex also invests in joint ventures and associates with other

In 2021, Transimex’s net revenue reached 6,429.2 billion VND and net profit reached 682.8 billion VND, up 88% and 112% respectively compared to 2020.

Transimex Corporation

By the end of the fourth quarter of 2021, total assets of the company reached nearly 5,711 billion VND, up 46% compared to the beginning of the year. In particular, cash and cash equivalents increased by 125% to 1,035 billion VND; short-term receivables jumped to more

Regarding debt structure, Transimex still had 2,139.7 billion VND of total liabilities, up 36. Short-term and long-term finance lease debt was 431.5 billion VND and 868.6 billion VND, accounting for 20.2% and 40.6% of total debt, respectively. Undistributed after-tax profit was 1,297.8 billion VND.

7. BEE LOGISTICS CORPORATION

Bee Logistics Corporation was established on October 1, 2004 in Ho Chi Minh City. Over 18 years of development, Bee Logistics has experienced impressive growth with a staff of more than 800 people throughout Vietnam (22 offices), Cambodia, Myanmar and joint venture companies, representative offices in Thailand, India, Taiwan, Korea, China.

Starting with sea freight consolidation service, Bee Logistics has now provided most of the modern and integrated logistics services from customs clearance, air freight, container cargo, bulk cargo, multimodal transport, railway, cross-border transportation, door to door service, super-large, super-weight cargo, value-added services such as packing, storage.

The services provided by Bee Logistics are personalized to suit the needs of each customer, bringing benefits, efficiency and reliability to the supply chain, increasing competitiveness and creating value for customers. Bee Logistics is one of the few businesses in Vietnam that has full licenses from customs clearance, multimodal transport to bills of lading approved by the US Federal Maritime Commission (FMC).

Bee Logistics not only provides global logistics services to and from offices, but also provides services from third countries to other countries based on a reliable global partner system in over 200 countries and territories. All services of Bee Logistics are insured by reputable insurance companies such as QBE, Bao Minh, Bao Viet, AON, BIC.

Bee Logistics Corporation

Data source: VietnamCredit

8. IN DO TRANS LOGISTICS CORPORATION

In Do Trans Logistics Corporation (ITL Corp), formerly known as Indo Tran Forwarding Company Limited (ITL), was established in 1999 and operated in the field of international freight. In 2007, it became In Do Trans Logistics Corporation and expanded its field of operation.

ITL Corp is considered as one of the leading enterprises in providing freight forwarding services, air representative and general agent in Vietnam market.

Currently, ITL is a leading integrated logistics solution provider in air freight, international transportation, general logistics, rail services, customs and distribution services in Indochina, commercial logistics e-commerce, express delivery, warehousing services with an international standard system stretching across Vietnam and covering an area of more than 300,000m2.

In Do Trans Logistics Corporation (ITL Corp)

As a representative of more than 22 airlines, managing more than 300 flights per week and a capacity of 150,000 tons of cargo per year, ITL is the largest GSA and aviation service provider in Vietnam.

9. SCHENKER VIETNAM CO., LTD

Schenker is one of the leading corporations in Germany in particular and the world in general operating in the field of logistics. Schenker now has representative offices in most countries around the world and has affirmed its position in the international market in the field in which it operates.

Schenker

Present in Vietnam since 1991, Schenker has built a reputation as one of the most preferred logistics providers in Vietnam. The company provides air and sea freight solutions as well as other related logistics services for global brands operating in Vietnam as well as domestic companies. It also develops its own solutions for the electronics, semiconductor, fashion, FMCG, pharmaceutical and healthcare industries.

10. VINAFREIGHT JOINT STOCK COMPANY

Vinafreight Joint Stock Company (VNF) was formerly a unit specializing in air transportation under the Ho Chi Minh City Foreign Trade Logistics Company (VINATRANS. In the face of the market economy, Vinafreight was established in 1997. Just a short time after its establishment, the company quickly emerged as a one of the few successful businesses in forwarding, logistics and shipping agency services. It has not only achieved solid growth year on year, but also won the trust of partners and authorities for its reliability and financial capacity.

The company was equitized in early 2002. Vinafreight currently operates its branches in Hanoi, Hai Phong, offices in Hue, Da Nang, Qui Nhon and Can Tho.

In 2021, VNF achieved 4,896 billion VND in net revenue, twice as high as the same period last year. EAT was 78.5 billion VND, 9 times higher than last year. The parent company's NPAT was 66.6 billion VND.

Both revenue and profit that VNF achieves in 2021 are the highest figures in the company's history.

Vinafreight Joint Stock Company (VNF)

 

Henry Tran – VietnamCredit

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