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In 2022, Vantage is top 1 of local freight forwarder about Volume from Vietnam to USA
Vantage Logistics is in the top 20 international freight forwarders from Vietnam to the US
Generally speaking, the Vietnam-US line still mainly makes direct customer appointments, and the proportion of freight forwarders is not particularly high. The proportion of freight forwarders in 2019 is 33%. The grand occasion in 2021 will undoubtedly give freight forwarders a chance to play a role, and the proportion will increase to 45%. By 2022, it will drop a little, but there are still 43%, which is still lower than the freight forwarders of the Asian American line proportion. The reason is not complicated: the consignees of the two major commodities (furniture and footwear) that occupy the main position of Vietnam’s exports to the United States generally contract directly with the ship owners (Nike, Ashley Furniture, Rooms to Go Furniture, etc.).
Having said that, there are still nearly half of the volume in the freight forwarder, and the market potential is still huge. The cargo volume of the 200th-ranked freight forwarder is around 550TEU, which is about 11TEU per week, and the market is very fragmented.
Almost all of the top 25 leading freight forwarders are from Europe, America, Hong Kong and Taiwan, and they have distanced themselves from the companies behind them, which shows that they have been deeply involved in the local market for a long time. The word “almost” has two meanings: there are still several Vietnamese local freight forwarders who have successfully entered the top 25 or so, and another freight forwarder with a background in mainland China.
These four Vietnamese freight forwarders are outstanding local representatives: VANTAGE LOGISTICS (No. 20), SUPER CARGO SERVICE (No. 22), THREE W (3W) LOGISTICS (No. 26), BEE LOGISTICS (No. 27). TOPASIA INTERNATIONAL LOGISTICS, ranked 25th, is a freight forwarder with a mainland background. It’s just that they deployed the Southeast Asian market early, and finally saw the blossoming and fruiting.
It seems that the order of the Vietnam-US freight forwarding market has been established, and it seems that there are not many opportunities for new entrants, but it is not the case. First of all, this is still a fast-growing market, and the cake is still expanding every year. In addition, the trend of U.S. importers increasing imports from Southeast Asia, especially Vietnam, continues.
The leading freight forwarders are almost all European, American, Hong Kong and Taiwan companies, which proves that the bulk of the Vietnam-US line is the FOB market. Starting from the perspective of the consignee, it is not too late to enter the Vietnamese market with the help of local resources.
