PetroVietnam with Model of Transportation Company

PetroVietnam Transportation Company (PVTrans), a subsidiary of Vietnam Oil and Gas Corporation (PetroVietnam), was established in May 2002 according to the decision of the Minister Chief of the Government Office. The company headquarter is located in Ho Chi Minh City, the most exciting area in Vietnam and with two branches, on in Hanoi in the North and the other in Vung Tau as the oil and gas city in the South.

PVTrans is specializing in transportation of crude oil and petroleum products as well as doing other oil and gas services. As the company’s strategic plan assigned by the Government, PVTrans is now focusing on the project of developing a considerable fleet of tankers including crude oil tankers (VLCC, Aframax), product tankers, chemical tanker, PLG tanker and other smaller tanker. In addition, PVTrans is now preparing to carry out a project of building up a Petroleum Marine Complex Base in South of Vietnam for manufacture/repair of oil rigs/platforms; maintenance, repair of vessels up to VLCC tanker; under water services; whole drilling services and doing other technical marine oil and gas services.

PVTrans currently owns two Aframax crude oil tanker 100.000 DWT named Poseidon M (previously Yannis M) and Hercules M (previously Kamari). These two tankers have been operated safely and effectively by PVTrans, bringing in considerable profit to the company. The acquisition of the two tankers was accomplished successfully through two shipbrokers from England. The first tanker Poseidon M was delivered to PVTrans on April of 2003 through a shipbroker company named Arrow Asia Shipbroker Company under Arrow Shipbroker Company in London, UK. Another English company named Capital Shipbroker Company was also successful as a role of shipbroker for PVTrans to acquire the second Aframax tanker Hercules M on May of 2006. These two shipbroker companies such as Capricom, EA Gibson, and Clarksons are now still having closed business cooperation with PVTrans in terms of providing ship broking services to PVTrans. In addition, in term of operation PVTrans has been signing charter parties with almost Oil Majors including English ones such as BP to carry crude oil to many places in the world.

The sound initial business cooperation between PVTrans and the English companies as mentioned above will definitely open potential opportunities for the company to do further businesses with other business partners of having long time experience and modern technology in the fields of maritime and many oil and gas services. As a young company in the mentioned fields, PVTrans affirms that one of the most important business developing strategies of the company is to expand business cooperation with domestic and foreign business partners, especially with companies coming from developed countries for mutual understanding and benefits.

The company does believe that with its existing core competency such as the young , dynamic and professional human resources under strong and effective leadership from the board of Directors, firm and timely support & guidance from PetroVietnam which is a stated owned organisation managing the natural resource of oil and gas of Vietnam and the company’s business diversification in carrying out oil and gas services including transportation as well as other technical marine services, PVTrans will be developing rapidly on a sustainable foundation, gradually enhancing the competitiveness to strongly integrate into the regional and world – wide market of shipping and oil and gas services.