PVTrans Boosts Fleet, Revenue in 2025; Eyes International Expansion
PetroVietnam Transportation Corporation (PVTrans) has made significant strides in 2025, with a substantial investment in ship acquisitions and impressive revenue growth. The company has also set ambitious targets for the remainder of the year and beyond.
PVTrans kicked off 2025 with a major investment, acquiring ships from VinaSea Shipping and Hai Phong Shipbuilding Corporation for approximately $150 million. This acquisition has contributed to the company's fleet expansion, which now stands at 61 vessels with a combined Deadweight Tonnage (DWT) of nearly 1.8 million, with over 90% deployed overseas.
The company's revenue has seen a remarkable increase of 30% in the first nine months of 2025, reaching VND11 trillion ($417 million) and exceeding its full-year target by 7%. This growth can be attributed to the addition of three vessels to its fleet in 2025, which has led to higher utilization rates. In Q3 2025 alone, PVTrans recorded revenue of nearly VND3.9 trillion ($147.7 million), a 33% increase from the same period in 2024.
Despite a 4% slip in pre-tax profit in Q3 2025 to VND503 billion ($19.06 million), PVTrans' core profit is expected to rebound by 3% for the year, supported by a recovery in oil freight rates. The company's pre-tax profit for the first nine months of 2025 stood at VND1.14 trillion ($43.2 million), a 37% increase above the nine-month plan but a 5% decrease year-on-year.
Looking ahead, PVTrans is drafting its 2026 business plan and a five-year roadmap through 2030, with a focus on expanding its fleet and penetrating international markets. For Q4 2025, the company targets consolidated revenue of VND4.5 trillion ($171 million) and pre-tax profit of VND586 billion ($22.2 million).
PVTrans' strategic investments in ship acquisitions and fleet expansion have driven significant revenue growth in 2025. With ambitious targets for the remainder of the year and a clear roadmap for the future, the company is well-positioned to continue its success in the international market.
