TANKER SHIPPING COMPANIES “THRIVE”
By the end of Q3 2024, many tanker shipping companies reported positive business results. Pacific Petroleum Transportation Joint Stock Company (PVTrans Pacific) recorded a 36% decline in revenue year-on-year, reaching over VND 359 billion, but after-tax profit rose by 23.2% to VND 68.9 billion. For the first nine months of 2024, cumulative revenue was nearly VND 1,100 billion, down 11%, while after-tax profit increased by 11.1% to over VND 174 billion.
Vitaco Petroleum Transportation Joint Stock Company also achieved positive profit growth, earning over VND 19.4 billion in Q3, a 33% increase compared to the same period last year. Meanwhile, Vipco Petroleum Transportation Joint Stock Company reported a 23% rise in net revenue to over VND 159 billion, though after-tax profit dropped by 10% to over VND 21.4 billion. Vietnam Ocean Shipping Joint Stock Company (Vosco) achieved an after-tax profit of over VND 340 billion from consolidated business results in the first nine months of 2024, more than 600 times higher than the same period in 2023. However, the company still reported a loss of over VND 15.3 billion in Q3.
According to international maritime experts, the tanker market has remained favorable recently and is expected to continue growing in the coming years, at least until 2026.
Source: baogiaothong.vn
