The United States remains Vietnam’s largest export market, with nearly US$90 billion in export revenue recorded in the first nine months of 2024. Rising tensions in the Red Sea have forced shipping lines to reroute vessels to bypass the Suez Canal due to attacks on commercial ships by Yemen’s Houthi rebels. These diversions to longer routes, primarily around the Cape of Good Hope, have sent fuel and other costs soaring, contributed to vessel shortages, and driven up freight rates, as more ships are needed to maintain cargo flow on extended routes. The impact of disruptions goes beyond international waters. In the U.S., the collapse of the Francis Scott Key Bridge in March 2024 halted traffic for months at Baltimore—a key roll-on/roll-off cargo port. Further disruptions followed with a work stoppage at U.S. East and Gulf Coast ports on October 1, 2024, underscoring that supply chain disruptions are now a consistent challenge. Building and investing for the future The Georgia Ports Authority (GPA), the owner and operator of the Port of Savannah, exemplifies proactive investment to tackle supply chain challenges. GPA’s two-pronged strategy focuses on expanding the Port of Savannah into the premier container terminal on the U.S. East Coast and […]
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