That was the affirmation of Mr. Le Manh Hung – General Director of the Vietnam Oil and Gas Group (Petrovietnam) – at the Conference on Summary of Production and Business Activities in 2023, Implementation of the 2024 Plan, and the Labor Conference of PetroVietnam Transportation Corporation (PVTrans, ticker: PVT), held on the morning of December 27, 2023, in Ho Chi Minh City.
Reporting to the Conference, the Board of Directors of PVTrans stated that since the beginning of 2023, the maritime transport market has experienced constant fluctuations, with a clear divergence among transport segments. Domestically, the economy has gradually recovered, leading to increased demand for gasoline consumption to support production, business, and transportation activities — creating favorable conditions for PVTrans’s operations.
In the face of both challenges and opportunities, PVTrans has proactively and flexibly implemented multiple solutions to capitalize on market advantages while overcoming difficulties, ensuring stable, safe, and efficient operations, and ultimately exceeding its assigned production and business targets.
Mr. Nguyen Duyen Hieu – General Director of PVTrans reported at the Conference.
Specifically, in 2023, PVTrans is estimated to achieve revenue of VND 9,600 billion, equivalent to 141% of the annual plan; Pre-tax profit is estimated at VND 1,460 billion, equivalent to 215% of the annual plan; After-tax profit is estimated at VND 1,172 billion, equivalent to 218% of the annual plan; State budget contribution is estimated at VND 486 billion, equivalent to 164% of the annual plan; Profit after tax/Charter capital ratio is 45%, equivalent to 237% of the annual plan. PVTrans has also resolutely directed the implementation of production and business tasks so that all member units operate stably and effectively.
During the year, PVTrans invested in purchasing and leasing a total of 12 ships, bringing the total number of ships in the fleet to 51 with a total tonnage of nearly 1.4 million DWT. The increasingly improved scale and quality of assets will bring competitive advantages, meeting the needs of stable and sustainable development of PV Trans in the coming time.
Mr. Nguyen Quoc Thinh – Deputy General Director, Chairman of PVTrans Trade Union reported
Reporting on the implementation of the Collective Labor Agreement, labor regulations, and democratic regulations at PVTrans, Mr. Nguyen Quoc Thinh – Chairman of the Trade Union – stated that in 2023, PVTrans employees enjoyed stable employment and income, with the average income reaching 26.9 million VND per person per month, up 8% compared to 2022.
With a workforce of approximately 2,500 employees, PVTrans has consistently focused on developing comprehensive welfare policies that care for the material and spiritual well-being of its employees and their families. These efforts have helped foster a strong sense of stability, motivation, and peace of mind among the workforce, ensuring smooth and continuous production and business operations. In addition, PVTrans actively implements various social security initiatives, demonstrating its sense of responsibility to the community and alignment with the orientation and directives of Petrovietnam.
At the Conference, Mr. Pham Viet Anh – Chairman of the Board of Directors, on behalf of PVTrans’s leadership, expressed sincere appreciation to the Group’s management, particularly General Director Mr. Le Manh Hung, for their consistent attention, guidance, and support for PVTrans over the years.
To maintain a stable and sustainable growth trajectory, Mr. Pham Viet Anh emphasized that in 2024 — amid an unpredictable market environment and intertwined challenges and opportunities — PVTrans’s Board of Directors will strive to enhance governance capacity, streamline organizational and human resource structures in line with the Corporation’s asset scale, and further promote the development of PVTrans’s corporate culture, reinforcing the distinctive identity and spirit of PVTrans employees. Alongside strengthening the capacity of its fleet in the international market, PVTrans will also seek opportunities to participate more deeply in the domestic logistics supply chain while enhancing its role within Petrovietnam’s overall service ecosystem.
Mr. Pham Viet Anh – Chairman of PVTrans Board of Directors speaking
On behalf of the leadership of the Vietnam Oil and Gas Group (Petrovietnam), General Director Mr. Le Manh Hung acknowledged and highly appreciated the remarkable achievements of PVTrans, affirming the Corporation’s important role within the Petrovietnam ecosystem.
Mr. Le Manh Hung emphasized that, despite the challenging economic conditions and intense market competition, PVTrans has maintained a well-balanced business and investment structure, achieved impressive performance in both revenue and profit, and made significant contributions to the overall success of Petrovietnam’s service sector.
Expressing his agreement with the 2024 business and operational plan proposed by PVTrans’s Board of Directors, the General Director also provided orientations and suggested several key solutions. In alignment with the Project for Building and Developing Petrovietnam into a Leading National and Regional Energy Group, consistent with global energy transition trends, Mr. Le Manh Hung recommended that PVTrans should:
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Define long-term strategic goals to affirm its role and position in the domestic, regional, and global maritime transport and logistics markets;
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Develop a focused investment portfolio and strategy to support these long-term objectives; and
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Establish new development drivers to fully leverage the resources of the PVTrans ecosystem while integrating effectively within the broader Petrovietnam ecosystem.
He affirmed that Petrovietnam will continue to support and place full confidence in PVTrans, believing that the Corporation will build upon its achievements, successfully execute the 2024 plan, and attain even greater accomplishments in the years ahead.
PVTrans Corporation is honored to receive the Emulation Flag of the State Capital Management Committee at Enterprises.
At the Conference, PVTrans Corporation was honored to receive the Emulation Flag from the State Capital Management Committee at Enterprises. At the same time, in recognition of the dedication and contributions of its workforce, the Board of Directors of PVTrans solemnly expressed gratitude and commended outstanding collectives and individuals for their remarkable achievements in 2023.
Among them, six collectives and six individuals were awarded Certificates of Merit by the General Director of the Vietnam Oil and Gas Group (Petrovietnam). In addition, the Trade Union of PVTrans Corporation was honored to receive the Emulation Flag from the Vietnam Oil and Gas Trade Union.
Petrovietnam Board of Directors member Pham Tuan Anh and Petrovietnam Deputy General Director Phan Tu Giang presented Certificates of Merit from the Group’s General Director to collectives and individuals with outstanding achievements.
Collectives and individuals were honored to receive special awards bearing PVTrans’ identity.
In addition, many PVTrans subsidiaries and individuals were honored with special annual awards, recognizing their outstanding achievements and distinctive strengths across various fields. The awards included:
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Most Effective Business Company – Hanoi Petroleum Transportation Joint Stock Company
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Best Management Company – Phuong Dong Viet Transportation and Logistics Joint Stock Company
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Best Restructuring Company – Petroleum Maritime Services Company (PVTrans OFS)
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Breakthrough Service Development Company – Nhat Viet Transportation Joint Stock Company
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Breakthrough Growth Company – Phuong Nam Petroleum Transportation Joint Stock Company
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PVTrans Culture Award 2023
The conference was a great success.
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