On September 4, 2025, Nin Sing Logistics Co., Ltd. (Ninja Van Vietnam) officially announced the termination of its express delivery operations in Vietnam. The move marks a major turning point for one of the most prominent players that once reshaped last-mile delivery during the boom of e-commerce in the country.

Event Overview: Ceasing All Express Delivery by September 2025

According to the company’s announcement, Ninja Van advised customers to refrain from placing new orders, as it could no longer guarantee timely fulfillment. Existing orders in the system will be processed and completed by September 26. Any orders that cannot be fulfilled will be refunded to customers no later than September 30, 2025. After this deadline, all express delivery services of Ninja Van in Vietnam will officially come to an end.

This is not merely an operational adjustment but a clear indication of the end of a significant growth phase for Ninja Van in one of the most dynamic logistics markets in Southeast Asia.

Underlying Reasons: Competition and Profitability Challenges

Vietnam’s express delivery market has become fiercely competitive in recent years. Alongside domestic players such as Giao Hang Nhanh (GHN), Viettel Post, and Giao Hang Tiet Kiem (GHTK), international companies like J&T Express and Shopee Express have rapidly expanded their footprints.

Moreover, major e-commerce platforms are increasingly building in-house logistics networks, aiming to cut costs, optimize speed, and control customer experience. This trend has significantly reduced the available market share for independent logistics providers such as Ninja Van.

Meanwhile, the express delivery model is characterized by high operating costs, low profit margins, and constant expansion pressure. After years of pursuing a “growth-at-all-costs” strategy, Ninja Van had to restructure its operations and pivot toward a more sustainable business path.

New Strategic Focus: High-Value Logistics Services

Alongside its exit from the express delivery segment, Ninja Van announced a strategic shift toward higher-margin, specialized logistics services, including:

• B2B restocking services – targeting bulk shipments between enterprises, especially in retail and manufacturing.

• Cold chain logistics – providing temperature-controlled transportation solutions for perishable goods, pharmaceuticals, and vaccines.

These segments are considered high-potential with healthier profit margins and less direct competition compared to the saturated last-mile delivery market.

Regional Context: From Expansion to Sustainability

Ninja Van’s withdrawal from express delivery in Vietnam is not an isolated case. Across Southeast Asia, logistics companies are undergoing significant restructuring. After years of aggressive expansion fueled by the e-commerce boom, many firms are now shifting their focus to cost optimization, profitability, and specialized service development.

Once hailed as a high-profile startup that raised hundreds of millions of dollars in funding, Ninja Van is now aligning with this broader industry trend. Its exit from express delivery reflects a deliberate move toward market selectivity and operational sustainability.

Market Implications for Vietnam

In the short term, Ninja Van’s withdrawal may create a temporary gap, particularly for e-commerce sellers who relied on its services. However, competitors such as J&T Express, Shopee Express, GHN, and Viettel Post are expected to quickly capture the vacated market share.

At the same time, this event sends a clear signal: the Vietnamese logistics industry is entering a phase of market consolidation, where only companies with clear strategies, strong financial foundations, and differentiated services will survive in the long run.

A Step Back to Move Forward?

From a strategic perspective, Ninja Van’s exit can be seen as a necessary “step back” to realign its business model and focus resources on more profitable, resilient segments. Given the rising demand for specialized logistics especially in food, pharmaceuticals, and manufacturing this pivot could open new growth opportunities for the company.

Ninja Van’s official withdrawal from Vietnam’s express delivery market is not only the end of an ambitious growth chapter but also a reflection of a broader industry shift. From rapid expansion to sustainable development, from mass-market services to specialized niches, this marks a new era for logistics in the post-e-commerce-boom environment.

For Vietnam, this development serves as both a wake-up call about the intensity of market competition and an opportunity for local and international players to recalibrate their strategies and secure long-term positioning.