Too Many Vietnam Seaports Spoiling Terminal Business

Robert Hambleton wants to hear more noise from the huge container port outside his office near Ho Chi Minh City. Towering cranes at the next-door competitor are silent, without a ship on the horizon.

“It’s a brand-new terminal without any customers,” said Hambleton, general director of Cai Mep International Terminal Co. “You get a sense of how dire the situation is. The whole terminal industry is oversupplied.”