PetroVietnam Transportation Corporation (PVTrans) recently announced its consolidated revenue plan for this year, projecting an increase of less than 1% compared to last year, reaching 16,500 billion VND. Meanwhile, after-tax profit is expected to decrease by nearly 10%, to 1,200 billion VND.
PVTrans has a history of setting conservative business plans. According to VnExpress statistics from the last five years, the company consistently sets lower targets for the following year, but its actual results have always exceeded these targets by one and a half to two times.
In documents sent to shareholders ahead of next month's annual meeting, PVTrans's management stated that the oil market will maintain a fragile balance. This is because price fluctuations depend significantly on macroeconomic developments and geopolitical factors. The conflict in the Middle East has temporarily disrupted oil extraction, transportation, and energy supply chains, causing strong volatility in oil prices and international transportation costs.
However, PVTrans's management believes that energy price fluctuations arising from geopolitical events are often cyclical and may stabilize as conflicts are controlled or diplomatic solutions emerge. The company forecasts the crude oil, petroleum product, and chemical transport market to grow by about 1-2% this year compared to last year. Conversely, demand in the dry bulk transport segment is projected to decline due to slower global economic growth, particularly in major economies like the US and the EU.
PVTrans was established in 2002 with the primary mission of oil and gas transportation, especially crude oil. According to data published on its website, the company's fleet currently comprises 61 vessels. Most of these are chemical tankers, LPG carriers, and dry bulk vessels. The company plans to invest an additional 3,860 billion VND this year to expand its fleet.
PVTrans is a crucial link in the national energy supply chain. In its annual report published last year, the company stated that it holds 100% of the domestic market share for crude oil and LPG transportation, serving the Dung Quat (Quang Ngai) and Nghi Son (Thanh Hoa) refineries. Additionally, the company transports approximately 30% of the domestic petroleum market share. Last year's total revenue reached 16,448 billion VND, with after-tax profit at 1,329 billion VND.
PVTrans currently trades on the Ho Chi Minh City Stock Exchange. Its shares are trading around 21,000 VND, a slight increase from the beginning of the year, but 25% lower than the recent peak established in early march.
Phuong Dong
