AsemconnectVietnam - According to the semi-annual financial statement for the first 6 months of 2025, Global Pacific Shipping Joint Stock Company (code PCT) recorded net revenue of VND352 billion, up 65% over the same period, but after-tax profit decreased by 38%, to VND23.6 billion.

Global Pacific said that the main reason for the above results was that in January 2025, the Company successfully invested in ship No. 5, bringing the total number of ships owned to 5 (an increase of 2 ships compared to the same period last year). The expansion of the fleet has helped the Company improve its transport capacity, thereby contributing to a sharp increase in revenue in the first 6 months of 2025 compared to the same period.
However, profits still decreased significantly because the shipping market in the first 6 months of the year continued to face many challenges, stemming from complex economic and political factors. Specifically, political conflicts in the Middle East, tensions in the East Sea, the Russia-Ukraine war and many other hot spots have disrupted shipping routes, leading to increased insurance and operating costs.
In addition, the weakening of the global economy and unstable trade and consumption policies have caused freight rates for oil and chemical tankers to drop sharply, negatively affecting the Company's profits in the first half of the year.
By the end of the second quarter of 2025, Global Pacific's total assets reached VND3,106.2 billion, up 63.6% compared to the beginning of the year, mainly due to a 98% increase in long-term assets to VND2,957.3 billion; PCT's fixed assets alone increased by nearly 36% to VND1,978 billion. In addition, PCT also had VND12.8 billion in cash and cash equivalents, down 44.6%; Short-term receivables decreased by 72.9% to VND68.5 billion.
The sharp increase in assets also led to a nearly 96% increase in PCT's liabilities, to VND2,426 billion. Notably, corporate debt increased sharply, including VND308.4 billion in short-term loans and VND1,820.7 billion in long-term loans, up 44% and 92%, respectively, compared to the beginning of the year.
N.Nga
Source: VITIC/Tinnhanhchungkhoan