Information about the Company
PetroVietnam Transportation Corporation (PVTrans) converted from a shipping company in Vietnam Oil and Gas Group (PVN) to a joint-stock company in 2007. PVTrans’ business lines include transportation of crude oil, oil/ chemicals, gas, bulk cargo (coal); maritime services and logistics; technical management services, manpower supply of marine crew and other maritime services.
PVTrans’ vision is to maintain its position as Vietnam’s largest transporter and maritime service provider; ensure sustainable, stable development and high competitiveness; build and develop PVTrans to become a recognisable transportation brand in regional and global markets. Meanwhile, its mission is to contribute to the national energy security; promptly respond to oil and gas transportation and maritime related service demand; operate at a profit, maintain and enhance capital; ensure the utmost benefits for shareholders, welfare and a favourable working environment for employees, and contribute to the community and society.
Its corporate values include maintaining and improving the quality of fleets and skills of the crew to ensure utmost safety in operation; complying with international and national maritime transportation regulations; being open to accepting changes and being constantly creative and innovative; practising unity, support, cooperation; upholding its commitment to increase wealth for shareholders and provide professional services for customers.
Company Culture & Company Activities
Responsibility – Discipline – Reality – Efficiency is the PVTrans’ s typical culture characteristic which has been formed and cascaded by the leaders to all staff. To achieve sustainable human resources, the company ensures reasonable welfare policies; concentrates on training human resources; issues the income policy based on a key performance indicator (KPI) and remuneration policies; supports employees during the COVID-19 pandemic; organises annual staff conference; cares about the employees’ health and pension insurance, ensuring safe working conditions.
For health, safety and environment (HSE), PVTrans commits to the safety policies and procedures; focuses on emergency rescue and searching; uses materials efficiently and economically; saves energy and prevent waste; complies with environmental protection laws; implements environment protection activities: eg. propagate staffs to select reasonable food and avoid waste of food.
PVTrans also seeks to contribute to society and the community through corporate social responsibility (CSR) activities such as donating to renovate the primary school in Cam Thach Commune, Cam Xuyen District, Ha Tinh Province and for central Vietnam flood relief. Additionally, it gave gifts to 25 poor families in Dakao Ward, District 1, Hochiminh city and contributed to “Reunion Tet” for gas and oil workers.
Each PVTRans-er always represents the whole PVTRans with the spirit of responsibility, discipline, efforts and solidarity for PVTrans’s benefit
Achievements & Impact
Despite the COVID-19 pandemic, PVTrans’ revenue in 2020 has reached VND 7,730 billion, exceeding 125% of the plan (if including VND 150 billion to support other enterprises, the revenue in 2020 becomes higher than 2019) and profit before tax has reached VND 1,039 billion, exceeding 189% of the plan. Its return on equity is also stable.
PVTrans maintains the leading shipping company in Vietnam with 100% market shares of crude oil and LPG transportation, 30% market shares of oil/chemicals transportation and expands overseas operation with about 80% of the fleet. The company has successfully issued 42,211,084 shares, increasing its charter capital to VND 3,237 billion.
PVTrans currently has more than 2,000 employees and was ranked among the Top 500 biggest companies in Vietnam and Top 500 most profitable companies in Vietnam. It was also ranked #1 in the Top ten Reputation Award in Vietnam – Logistics.
The company’s strategy to achieve sustainable growth involves completing the business plan approved by its assistant general manager (AGM); spreading the culture of "Responsibility – Discipline – Reality – Efficiency" in the working environment; saving and protecting the marine environment and energy and prevent waste; enhancing training according to its business development; contributing to the community and society.
Future Direction
PVTrans’ succession plans include maintaining 100% market shares of crude oil and LPG transportation, 50% market shares of oil/ chemical transportation and keeping the market of coal transportation for Vietnam Oil and Gas Group’s (PVN) thermal power plant projects; expanding operations of international routine and gradually participate in the global supply chain; mobilising capital from shareholders and investors for investment, development and rejuvenation of fleet with reasonable vessel’s price.
Moreover, it will improve its service quality and brand reputation in the international market as well as management of internal regulations. PVTrans also aims to control expenses to save costs and increase profit; develop the fleet to meet domestic and international customers’ requirements; complete the yearly business plan to maintain a growth rate of about 10%/year and dividend about 10%/year.
Furthermore, the company plans to renovate the organisational structure and management model; stimulate all subsidiaries to operate efficiently and economically; increase flexibility and dynamism in business operation in the divestment plan of PVN; focus on investor relations and comply with the State regulations on public information for listed companies.
CORPORATE EXCELLENCE CATEGORY
PetroVietnam Transportation Corporation
Information about the Company
PetroVietnam Transportation Corporation (PVTrans) converted from a shipping company in Vietnam Oil and Gas Group (PVN) to a joint-stock company in 2007. PVTrans’ business lines include transportation of crude oil, oil/ chemicals, gas, bulk cargo (coal); maritime services and logistics; technical management services, manpower supply of marine crew and other maritime services.
PVTrans’ vision is to maintain its position as Vietnam’s largest transporter and maritime service provider; ensure sustainable, stable development and high competitiveness; build and develop PVTrans to become a recognisable transportation brand in regional and global markets. Meanwhile, its mission is to contribute to the national energy security; promptly respond to oil and gas transportation and maritime related service demand; operate at a profit, maintain and enhance capital; ensure the utmost benefits for shareholders, welfare and a favourable working environment for employees, and contribute to the community and society.
Its corporate values include maintaining and improving the quality of fleets and skills of the crew to ensure utmost safety in operation; complying with international and national maritime transportation regulations; being open to accepting changes and being constantly creative and innovative; practising unity, support, cooperation; upholding its commitment to increase wealth for shareholders and provide professional services for customers.
Company Culture & Company Activities
Responsibility – Discipline – Reality – Efficiency is the PVTrans’ s typical culture characteristic which has been formed and cascaded by the leaders to all staff. To achieve sustainable human resources, the company ensures reasonable welfare policies; concentrates on training human resources; issues the income policy based on a key performance indicator (KPI) and remuneration policies; supports employees during the COVID-19 pandemic; organises annual staff conference; cares about the employees’ health and pension insurance, ensuring safe working conditions.
For health, safety and environment (HSE), PVTrans commits to the safety policies and procedures; focuses on emergency rescue and searching; uses materials efficiently and economically; saves energy and prevent waste; complies with environmental protection laws; implements environment protection activities: eg. propagate staffs to select reasonable food and avoid waste of food.
PVTrans also seeks to contribute to society and the community through corporate social responsibility (CSR) activities such as donating to renovate the primary school in Cam Thach Commune, Cam Xuyen District, Ha Tinh Province and for central Vietnam flood relief. Additionally, it gave gifts to 25 poor families in Dakao Ward, District 1, Hochiminh city and contributed to “Reunion Tet” for gas and oil workers.
Achievements & Impact
Despite the COVID-19 pandemic, PVTrans’ revenue in 2020 has reached VND 7,730 billion, exceeding 125% of the plan (if including VND 150 billion to support other enterprises, the revenue in 2020 becomes higher than 2019) and profit before tax has reached VND 1,039 billion, exceeding 189% of the plan. Its return on equity is also stable.
PVTrans maintains the leading shipping company in Vietnam with 100% market shares of crude oil and LPG transportation, 30% market shares of oil/chemicals transportation and expands overseas operation with about 80% of the fleet. The company has successfully issued 42,211,084 shares, increasing its charter capital to VND 3,237 billion.
PVTrans currently has more than 2,000 employees and was ranked among the Top 500 biggest companies in Vietnam and Top 500 most profitable companies in Vietnam. It was also ranked #1 in the Top ten Reputation Award in Vietnam – Logistics.
The company’s strategy to achieve sustainable growth involves completing the business plan approved by its assistant general manager (AGM); spreading the culture of "Responsibility – Discipline – Reality – Efficiency" in the working environment; saving and protecting the marine environment and energy and prevent waste; enhancing training according to its business development; contributing to the community and society.
Each PVTRans-er always represents the whole PVTRans with the spirit of responsibility, discipline, efforts and solidarity for PVTrans’s benefit
Future Direction
PVTrans’ succession plans include maintaining 100% market shares of crude oil and LPG transportation, 50% market shares of oil/ chemical transportation and keeping the market of coal transportation for Vietnam Oil and Gas Group’s (PVN) thermal power plant projects; expanding operations of international routine and gradually participate in the global supply chain; mobilising capital from shareholders and investors for investment, development and rejuvenation of fleet with reasonable vessel’s price.
Moreover, it will improve its service quality and brand reputation in the international market as well as management of internal regulations. PVTrans also aims to control expenses to save costs and increase profit; develop the fleet to meet domestic and international customers’ requirements; complete the yearly business plan to maintain a growth rate of about 10%/year and dividend about 10%/year.
Furthermore, the company plans to renovate the organisational structure and management model; stimulate all subsidiaries to operate efficiently and economically; increase flexibility and dynamism in business operation in the divestment plan of PVN; focus on investor relations and comply with the State regulations on public information for listed companies.