AsemconnectVietnam - Pacific Petroleum Transportation Joint Stock Company (PV Trans Pacific, code PVP - HOSE) announced documents for the 2025 Extraordinary General Meeting of Shareholders, scheduled to be held on April 28 in Ho Chi Minh City.

In 2025, PV Trans Pacific plans to operate with total revenue of VND1,850 billion, equivalent to the same period last year, with pre-tax profit of VND245 billion and payment to the State budget of VND61.4 billion.
In addition, regarding the investment plan, PV Trans Pacific also said it plans to invest USD28 million in an MR vessel with a tonnage of 45,000 to 55,000 DWT, a project carried over from the previous year; and invest 84 million USD to invest in 2 ships (including 1 Aframax ship with a capacity of 120,000 DWT, 1 MR ship with a capacity of 45,000 - 55,000 DWT) or invest in 1 LR2 ship or 1 VLGC ship with a capacity of 60,000 - 84,000 CBM.
Thus, the estimated total investment value in 2025 including the project carried over from 2024 is USD112 million.
The company added that its core business owns and operates (including leasing and renting) large oil tankers, which have been operating effectively for many years. Currently, PV Trans Pacific's fleet size includes 1 crude oil tanker, the Apollo, which is 19 years old and has entered the end of its favorable exploitation cycle, 1 storage tanker connecting FSO Dai Hung Queen, which is being leased bareboat to the Corporation, and 2 MR2 chemical tankers that have just been invested in and put into operation from 2023 and the end of 2024.
Therefore, investing in fleet development, including investing in 1-2 additional Aframax vessels less than 15 years old to expand the scale and rejuvenate the fleet, is necessary to address the risk of no longer having ships in the traditional Aframax crude oil transportation segment for exploitation and for the long-term stable development of PV Trans Pacific.
At the same time, PV Trans Pacific also submitted to shareholders a Feasibility Study Report on the investment project of Aframax crude oil tankers with a capacity of 80,000 - 120,000 DWT, with a total investment not exceeding 53.5 million USD and an expected investment period of 2025.
N.Nga
Source: VITIC/Tinnhanhchungkhoan