On June 24, 2019, in Quang Ngai, PVTrans Pacific – a subsidiary of PVTrans, launched crude oil tanker named APOLLO.
APOLLO tanker is built in Japan, with a capacity of 105,465 tons, a length of 237.71 M, a width of 42 M, a draft of 14,850 M, with many modern functions, meeting the stringent standards of the maritime industry and international customers. At this time, APOLLO is the largest Aframax crude oil vessel which owned by the Vietnamese Shipowner.
The investment in APOLLO tanker is in the overall development strategy of PVTrans to rejuvenate the fleet, improve the capacity of transportation and competitiveness to maintain domestic market share and expand foreign market . With the existing competitiveness, PVTrans’s customers are not only PVN’s members but also EVN, TKV, private enterprises, international oil and gas companies. Currently, about 50% of PVTrans’ fleet is operated in the international market, mainly in the Middle East and Asia-Pacific region.
After handover ceremony of the Apollo, PVTrans Pacific has signed a long-term time charter contract with foreign customers for the international routes since July 1, 2019.
In the recent years, due to the impact of recession and crisis of the shipping industry in the world, PVTrans faced many obstacles and the risk of bankruptcy as the other shipping companies. However, under high determination and reasonable and scientific management solutions of markets, technologies, operation, finance, investment and etc, PVTrans has gradually overcome difficulties and grow continously for 7 years with an average growth rate of around 17-20%/year. In 2018, PVTrans’s revenue reached nearly VND8,000 billion, profit before tax reached VND975 billion, therefore, PVTrans is ranked in top 3 of best effective companies (by return on equity ratio) in PVN.
In 2019, this is the second time PVTrans has been voted in the top 50 best listed companies in Vietnam by Forbes (USA), and continue to be the leading shipping enterprise in Vietnam.