AsemconnectVietnam - Implementing the rejuvenation strategy, Vinaship Shipping Joint Stock Company (code VNA- UPCoM) sold the Vinaship Diamond vessel and purchased a new Vinaship Unity vessel.

Accordingly, Vinaship has just received the handover of the Vinaship Unity vessel in Singapore, with a capacity of 28,189 DWT, built in 2012. After receiving it, Vinaship plans to carry out procedures to convert registration and inspection documents to put the vessel into operation.
In contrast, at the end of November 2024, Vinaship successfully sold the Vinaship Diamond vessel with a capacity of 24,034 DWT, built in 1996 in Japan.
Thus, in a short time, Vinaship has sold an older vessel and invested in a younger vessel with a larger capacity.
At the 2024 Extraordinary General Meeting of Shareholders held on September 24, Vinaship approved a plan to purchase a dry cargo ship with a capacity of 28,000 - 32,000 DWT, a used type built between 2009 - 2013, equivalent to under 15 years old, located in Japan, China, and South Korea. Vinaship plans to implement the project from the time of approval until the 2025 Extraordinary General Meeting of Shareholders. Specifically, the total approved investment is USD12 million, equivalent to nearly USD306 billion, of which the ship purchase price is nearly VND304 billion and the registration fee and ship acceptance cost are nearly VND2 billion. Vinaship plans to use 50% of its own capital and 50% of its loan capital from Vietnam Joint Stock Commercial Bank for Industry and Trade - Hong Bang Branch, interest rate 9%/year, loan term 7 years with principal and interest paid every 3 months.
In terms of business activities, in the third quarter of 2024, Vinaship recorded revenue of VND163.19 billion, up 14.3% over the same period; profit after tax lost VND3.9 billion compared to the same period of profit of VND2.67 billion. In which, gross profit margin improved from 3% to 8%.
Accumulated in the first 9 months of 2024, Vinaship recorded revenue of VND468.05 billion, up 1.8% over the same period; profit after tax reached VND23.94 billion, up 495.5% over the same period last year.
In 2024, Vinaship plans to achieve revenue of VND628.5 billion, pre-tax profit of VND57.97 billion and plans to invest in an additional ship with a capacity of 28,000 to 32,000 DWT, with a total investment of USD12 million.
Thus, ending the first 9 months of 2024 with pre-tax profit of VND30.97 billion, Vinaship has completed 53.4% of the 2024 plan.
N.Nga
Source: VITIC/Tinnhanhchungkhoan