PVT Logistics plans investment to expand fleet

PVT Logistics plans investment to expand fleet

The total investment is capped at $29 million, with implementation expected to begin in the fourth quarter of 2026 and continue until completion.

In the first half of 2026, PVT Logistics' net revenue from sales and service provision reached more than VNĐ1.122 trillion. Photo courtesy of pvtlogistics

Phương Đông Việt Transportation and Logistics JSC (PVT Logistics) plans to offer 56.95 million shares to existing shareholders to raise around VNĐ569.48 billion (US$22 million) to help fund investments in oil/chemical tankers and bulk carriers.

The offering is expected to take place from the fourth quarter of 2026 to the second quarter of 2027.

PVT Logistics has also approved in principle a plan to purchase either an oil/chemical tanker with a deadweight tonnage (DWT) of 19,000-26,000 tonnes or a bulk carrier of 55,000-75,000 DWT.

The total investment is capped at $29 million, with implementation expected to begin in the fourth quarter of 2026 and continue until completion.

PVT Logistics plans to finance up to 70 per cent of the vessel purchase price through loans, with the remainder covered by equity and/or other available funding sources.

Of the expected proceeds of VNĐ569.48 billion, VNĐ361.46 billion will be allocated to supplement funding for an oil/chemical tanker. The remaining VNĐ208.02 billion will be used to supplement funding for either an oil/chemical tanker.

If the offering is completed successfully, PVT Logistics' charter capital will rise from around VNĐ793 billion to VNĐ1.36 trillion.

In the first half of 2026, the company's net revenue from sales and service provision reached more than VNĐ1.122 trillion, up 37 per cent year-on-year. After-tax accounting profit exceeded VNĐ36.4 billion, an increase of 126 per cent.

The results were driven mainly by the management and operation of its bulk carrier fleet and vessels transporting refined petroleum products and chemicals. 

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