The Vietnam Maritime and Waterways Administration has taken proactive measures amid rising tensions in the Middle East, particularly concerning Vietnamese maritime operations. They have issued diplomatic notes to the United Arab Emirates, Saudi Arabia, and neighboring countries, requesting assistance for Vietnamese vessels and crews who may need food, supplies, or other forms of support. The agency is closely monitoring developments while maintaining communication with shipping companies and related organizations, ensuring alignment with guidance from the International Maritime Organisation (IMO).
Currently, all Vietnamese oil tanker crews operating in the Middle East are reported safe. The administration has directed the Vietnam Maritime Search and Rescue Coordination Centre (VMRCC) to survey Vietnamese vessels in those waters and keep in touch with shipowners and crewing companies through a 24-hour hotline. Vietnam’s maritime fleet consists of 151 oil tankers, with an average age of 20.3 years and a combined gross tonnage of over 1.3 million GT. Among these, six are significant crude oil carriers, while many others are chartered for international operations.
In terms of oil supply, the Binh Son Refinery relies mainly on domestic crude, thus limiting its exposure to international disruptions; approximately 15% of its crude is imported. The Nghi Son Refinery, on the other hand, is entirely dependent on imports from the Middle East, receiving about four shipments monthly, totaling roughly 1-1.1 million tonnes. Officials have expressed concerns that any disruptions to tanker routes in the Middle East could directly affect crude supplies to this refinery.
Moreover, the global shipping landscape has responded to the evolving situation. Shipping data provider Drewry noted a 5% average increase in global container freight rates, with the Asia-US West Coast route experiencing the most significant hikes of 7-10%. Notably, some vessels are rerouting to avoid the Strait of Hormuz, leading to longer transit times and increased costs as ships navigate around the Cape of Good Hope. While other routes remain unaffected, most major shipping lines have halted cargo services from Vietnam to the Middle East and are not accepting new bookings.
Although freight rates to other destinations from Vietnam have largely remained stable, some carriers implementing longer routes have started charging war-risk surcharges. The Vietnam Maritime and Waterways Administration continues to monitor the situation closely, assessing potential impacts on maritime operations and preparing necessary responses to secure the interests of Vietnamese shipping and crews.
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