PV Trans Invests VND 3,800 Billion to Expand Fleet in 2026
Petrovietnam Transportation Corporation (PV Trans, stock code PVT) has announced its 2026 business plan, highlighting a major fleet expansion strategy. Notably, PV Trans invests VND 3,800 billion to acquire new vessels and strengthen its position in both domestic and international shipping markets.
The company targets consolidated revenue of VND 16,500 billion, up nearly 3% compared to 2025. However, net profit is projected at VND 1,200 billion, down more than 10%, reflecting a cautious approach amid global market uncertainties.
For the parent company alone, PV Trans expects revenue of VND 3,900 billion and after-tax profit of VND 560 billion. The planned dividend payout ratio for 2026 is 10%.
Five Consecutive Years of Profit Above VND 1,000 Billion
In 2025, PV Trans recorded consolidated revenue growth of 30% year-on-year. Pre-tax profit reached approximately VND 1,550 billion, exceeding the annual shareholder-approved target by 29%.
This marks the fifth consecutive year the company has maintained profits above VND 1,000 billion, reinforcing its leadership in Vietnam’s liquid bulk shipping sector.
Maintaining Domestic Oil Transport Market Share
PV Trans continues to secure stable domestic transport contracts, ensuring safe and timely delivery of crude oil feedstock and refined products for:
-
Dung Quat Oil Refinery
-
Nghi Son Refinery
-
Member units of Petrovietnam
The company also aims to ensure uninterrupted operation of FSO PVN Dai Hung Queen at Dai Hung field and the CPP platform for Idemitsu at Sao Vang – Dai Nguyet field.
At the same time, PV Trans is accelerating its international expansion strategy to enhance its global brand presence
PV Trans’s 2026 investment plan. (Source: PV Trans)
PV Trans Invests VND 3,858 Billion in New Vessel Acquisition
A key highlight of the 2026 strategy is that PV Trans invests VND 3,800 billion (approximately VND 3,858 billion in total planned capital allocation) into fleet expansion and fixed asset investment.
Ongoing projects from 2025:
-
Total investment: USD 45 million
-
Acquisition of 1–2 vessels (crude oil, product tanker, or chemical tanker)
-
Capacity: 19,000 – 120,000 DWT
New projects in 2026:
-
Total investment: USD 85 million
-
Acquisition of 1–3 vessels (crude oil tanker, product tanker, chemical tanker, LPG carrier, bulk carrier)
-
Capacity: 19,000 – 140,000 DWT
In 2025 alone, PV Trans added seven new vessels, increasing its fleet size to 65 ships with a combined capacity exceeding 2 million DWT. The company remains Vietnam’s leading liquid bulk shipping operator.
Financial Investments to Strengthen Ecosystem
PV Trans plans to allocate VND 382 billion for additional capital contributions to:
-
Thang Long Maritime Company (VND 15 billion)
-
Phuong Dong Viet Shipping (VND 296 billion)
-
Quang Ngai Maritime Company (VND 71 billion)
This strategy aims to expand its shipping ecosystem and diversify revenue streams.
Positive Outlook Driven by OPEC+ and Brent Oil Prices
According to PetroVietnam Securities, PV Trans’ business outlook remains positive, particularly in crude oil transportation.
Growth drivers include:
-
Potential production increases from OPEC+
-
Adjustments in Brent crude oil prices
-
Rising global oil trading and storage demand
With a modernizing fleet and a high proportion of international time-charter contracts, PV Trans is expected to maintain stable vessel utilization rates and profit margins.
The company aims to expand its fleet to 100 vessels by 2030, further increasing total tonnage and strengthening long-term competitiveness.
