AsemconnectVietnam - At the end of the first 6 months of 2023, PetroVietnam Transportation Corporation (PVTrans, code PVT - HOSE) recorded revenue, profit and paid to the State budget 6 months ahead of the plan.

Talking to a reporter from the Securities Investment Newspaper, a PVTrans representative shared a positive business picture compared to the plan set out at the beginning of the year.
Specifically, in the first 6 months of 2023, PVTrans estimated revenue of VND4,360 billion, equivalent to 134% of the first 6 months plan (VND3,244.2 billion plan) and achieved 64% of the annual revenue plan (plan VND6,800 billion).
Profit after tax in the first half of 2023 was recorded at VND488 billion, equaling 195% of the plan for the first 6 months of the year (the plan was VND250.2 billion) and achieved 91% of the profit plan of the year (the plan is VND538 billion profit); contributed VND239 billion to the state budget, 71% higher than the plan for the first 6 months of the year and at the same time achieved 81% of the year plan (the plan to pay the budget VND296 billion in 2023).
Regarding business activities, for the domestic market, Dung Quat Oil Refinery continues to operate stably at high capacity, sometimes at over 110% of design capacity, contributing to stabilizing the domestic market. After experiencing technical problems in the first half of January 2023 and the end of February - early March 2023 affecting the domestic petroleum supply, Nghi Son Refinery and Petrochemical Plant has resumed normal operation and operate at 100% capacity as committed.
As for the oil/chemical transport market, in the segment of chemical tankers with a tonnage of 13,000 - 20,000 DWT, the market is relatively stable and has recently tended to decrease slightly compared to the first period of 2023, overall remained at a higher level compared to the same period in 2022.
As for the LPG transport market, the market has been relatively stable compared to the end of 2022, going against the trend of low season at the beginning of the year mainly due to the sharp increase in LPG export volume from the US to Asia. Meanwhile, the freight rates of the VLGC train segments recorded significant growth, the coaster segment remained stable with a slight increase in freight rates compared to the same period in 2022.
As for the bulk transport market, the bulk freight market started showing signs of recovery from February 2023 but turned down slightly from the second half of the second quarter of 2023 due to the real estate market situation. China remains stagnant, growing slower than expected. Accordingly, freight rates in most segments are still much lower than in the same period in 2022.
Regarding investment activities, PVTrans is actively implementing investment procedures for 1 oil/chemical tanker of about 20,000 DWT (expected to receive the ship in July 2023), 2 MR tankers, 1 VLGC and 1 Supramex type bulk carrier as planned.
In addition, member units are also monitoring and updating the market and implementing planned investments.
In which, NVTrans Company has completed the bareboat charter procedure, put into operation 1 3,500 CBM LPG tanker, 1 28,000 DWT bulk carrier in the first quarter of 2023, and is implementing investment procedures for 1 VLGC vessel. (expected to receive ships in July 2023) and bareboot 2 tankers with a tonnage of about 20,000 DWT (expected to receive ships in July 2023).
Phuong Dong Viet Company completed investment procedures to purchase oil/chemical vessels of about 20,000 DWT in May 2023; PVTrans Pacific Company is carrying out procedures to invest in 1 MR tanker (expected to receive in June 2023).
N.Nga
Source: VITIC/Tinnhanhchungkhoan