AsemconnectVietnam - On the morning of June 16th, the International Gas Products Transportation Joint Stock Company (Gas Shipping, ticker GSP - HOSE) held its 2026 Annual General Meeting of Shareholders to approve the business plan, elect two additional members to the Board of Directors and one member to the Supervisory Board.

Referring to tensions in the Middle East, Mr. Doan Duc Trong, Member of the Board of Directors and Director, stated that the blockade of the Strait of Hormuz has affected approximately 2,000 commercial vessels and nearly 20,000 crew members in the Persian Gulf region.
The company's leadership stated that the conflict in the Middle East has increased geopolitical risks, driving up crude oil prices and shipping costs significantly depending on the segment. Disruptions in the energy supply chain, coupled with escalating logistics costs, have forced many refineries in China, the Middle East, and Southeast Asia to adjust or reduce capacity. For the LPG market, rising commodity prices and high transportation costs have increased cost pressure on businesses. These factors have negatively impacted LPG transportation demand, affecting the LPG transportation market in Vietnam, Southeast Asia, and South China. Besides increased vessel operating costs due to rising fuel prices, the prices of materials, equipment, and inputs have also increased by 25% to 60% depending on the type, creating significant pressure on the business performance of enterprises.
Regarding business direction, Gas Shipping stated that it will continue to ensure the maintenance and effective management of its existing fleet. It will also seek and expand new service types to support its core business activities. Research and monitor the market to invest in one oil/chemical tanker with a deadweight capacity of up to 25,000 DWT; ensure safety and capital growth; improve management and administration, especially safe operation and technical management of the fleet…
Regarding financial targets, in 2026, Gas Shipping plans to achieve revenue of VND3,200 billion; pre-tax profit is expected to be VND130 billion, an increase of 6.6% compared to 2025; and total investment is expected to be VND1,047 billion.
Also at the General Meeting, Gas Shipping approved the issuance of shares to pay dividends for 2025 at a rate of 10%, corresponding to an expected issuance of more than 6.75 million additional shares, expected to be implemented in 2026. If the capital increase is completed, Gas Shipping's charter capital is expected to increase to VND742.7 billion.
Regarding personnel matters, Gas Shipping approved the re-election of Mr. Doan Duc Trong as a member of the Board of Directors for a new term, as his term had ended. Simultaneously, Mr. Nguyen Quang Diep was dismissed from the Board of Directors, and Ms. Le Thi Anh Thi was dismissed from the Supervisory Board due to their resignations. The General Meeting also elected one additional member to the Board of Directors, Mr. Pham Quoc Huy, and one additional member to the Supervisory Board, Mr. Do Hoang Nam.
During the discussion, Gas Shipping leaders answered questions from shareholders.
Regarding the proposal to pay an additional 2.5% cash dividend: The Presiding Board acknowledged the shareholders' opinion. Gas Shipping always considers its dividend policy based on harmonizing the short-term interests of shareholders with the goal of sustainable development and increasing the value of the enterprise in the long term. For a shipping company, maintaining financial resources for investment, fleet modernization, and expansion of operational capacity is of paramount importance to enhance competitiveness and create a foundation for growth in subsequent periods. Over the past five years, the company has consistently maintained a relatively high dividend payout policy (averaging around 10-12% per year). The company will continue to research and develop a suitable dividend policy, ensuring a balance between shareholder interests and the need to maintain financial resources to serve the company's sustainable development goals.
Against the backdrop of a challenging and unstable market, the company's performance in the first six months of 2026 is as follows: Revenue reached approximately VND2,100 billion, expected to complete 66% of the annual plan, and pre-tax profit reached approximately VND 57 billion, expected to complete 45% of the annual plan.
According to the company's leadership, the above results were affected by the general difficulties of the market. However, in the second half of 2026, the company expects business results to improve and compensate for the first half of the year. "The company remains committed to its set goals and is confident in completing its production and business plan for the 2026 fiscal year."
Source: VITIC/Dau tu Chung khoan