Several Vietnamese shipping companies that were brought to their knees during the 2008 financial crisis while under full state ownership have proven that the reforms since undertaken, together with the transparency that comes with being publicly listed, have reversed their fortunes.

According to their second-quarter results announcements, some have pulled off their best quarterly results in over a decade.

Leading the pack in terms of profitability is Vietnam Maritime Corp (VMC), the country’s biggest shipping conglomerate, which saw a near doubling of profits year on year in its second quarter to VND 1.43tn