By GMM News | 2024-10-25 | Global Partner News |

As part of the 2024 investment plan and fleet development strategy of Pacific Petroleum Transportation Joint Stock Company (PVTrans Pacific – PVP), October 17, 2024, at Rotterdam port, Netherlands, PVTrans Pacific has completed procedures for receiving MT. Pacific Pride.

The Pacific Pride was built in South Korea with 50,697 DWT, is a chemical oil tanker, has good technical conditions, is modern, meets the strict standards of the maritime industry and the requirements of major oil and gas company in the world (Oil Major). Previously, ship were operated mainly in the European and American markets, these are regions with high requirements for ships docking. Therefore, it is expected that immediately after being received by PVTrans Pacific, the Pacific Pride will continue to be exploited in the international market.

The investment in Pacific Pride increase the total number of ships owned by PVTrans Pacific to 4 with a total tonnage more than 300,000 DWT with diverse types such as Aframax, MR, FSO vessels …

Currently, except for the FSO PVN Dai Hung Queen serving operations at Dai Hung field, located on the Vietnamese continental shelf, 100% of PVTrans Pacific’s oil tankers and chemical tankers are operating effectively on the international routes, with customers being prestigious Oil Majors. According to the plan, under favorable S&P market conditions, it is expected that in the fourth quarter of 2024, PVTrans Pacific will continue to invest in 1-2 additional segment vessels in accordance with market demand trends in the near future, ensuring investment efficiency and improving the competitiveness of PVTrans Pacific’s fleet. In terms of business activities, in the third quarter of 2024, PVTrans Pacific recorded revenue of 359.16 billion VND, down 36.1% over the same period, profit after tax reached 68.9 billion VND, an increase of 23%. .2% over the same period last year. In particular, it is worth noting that gross profit margin increased from 15.8% to 24.7%.

Cumulatively in the first 9 months of 2024, PVTrans Pacific recorded revenue reaching 1,092.21 billion VND, down 11% over the same period, profit after tax reached 174.39 billion VND, up 11.1% compared to 9 months ago. first month of 2023. In 2024, PVTrans Pacific plans a total revenue of 1,700 billion VND, an increase of 17.2% compared to the 2023 plan, an expected profit after tax of 176 billion VND, an increase of 10% compared to the 2023 plan, and to pay State budget is expected to be 56.4 billion VND. Thus, ending the first 9 months of 2024 with profit after tax of up to 174.39 billion VND, PVTrans Pacific has completed 99.1% of the business plan at the beginning of the year.