VIET MY PETROL TRANSPORTATION COMPANY LIMITED

According to Vanguard Business Information LLC (VNBIS), VIET MY PETROL TRANSPORTATION COMPANY LIMITED (CÔNG TY TNHH VẬN TẢI DẦU KHÍ VIỆT MỸ) is a privately held enterprise operating in the sea freight and petroleum transport industry, with a steadily expanding footprint in Vietnam’s logistics and energy sectors. The company is registered under Business ID 0109531880 and has its head office at the 29th Floor, East Building, Lotte Center Hanoi, 54 Lieu Giai Street, Cong Vi Ward, Ba Dinh District, Ha Noi City, with a representative office located at Unit 1508, 15th Floor, Vincom Center, 72 Le Thanh Ton Street, Ben Nghe Ward, District 1, Ho Chi Minh City

A Rising Transport and Energy Player

Founded on February 25, 2021, VIET MY PETROL TRANSPORTATION COMPANY LIMITED operates primarily in sea and coastal freight water transport, supported by a wide range of auxiliary business activities including petroleum and natural gas extraction support, chemical and metal product manufacturing, and wholesale trading of fuels and industrial goods. Despite its young age, the company has rapidly scaled its operations, driven by the country’s strong demand for maritime logistics and refined petroleum distribution.

Financial Standing and Market Performance

For the fiscal year ending December 31, 2024, the company recorded total assets of USD 137.16 million, a 37.58 percent decrease compared to 2023, reflecting revaluation of assets and slower capital investment. Owner’s equity stood at USD 92.73 million, down 23.11 percent, while sales increased slightly by 2.7 percent to USD 105.97 million. The company reported a net loss of USD 2.04 million, attributed to higher operational costs and volatility in global freight and fuel markets.

However, working capital grew strongly by 107.29 percent to USD 4.39 million, showing solid liquidity and improved short-term cash control. This contrast between profitability and liquidity reflects a company in transition — expanding scale while absorbing high operating costs typical of a capital-intensive transport business.

Leadership and Ownership

The company is led by Ms. Luong T. H. X., who serves as Director and majority shareholder, holding 70 percent of total shares. The remaining 30 percent belongs to Ms. Luong D. L., both Vietnamese nationals based in Hanoi. Their combined control allows for swift decision-making and capital alignment in a competitive shipping environment.

Risk and Outlook

While profitability turned negative in 2024, VIET MY PETROL TRANSPORTATION COMPANY LIMITED retains strong asset backing and manageable leverage. Its young age, expanding service portfolio, and improving liquidity suggest potential for medium-term recovery as Vietnam’s logistics and energy sectors continue to grow.

From a credit management perspective, the company demonstrates moderate risk, primarily linked to high operating costs and sector volatility rather than structural weaknesses. As assessed by VNBIS, the firm remains a credible and capital-strong enterprise that, with sustained operational discipline, can continue aligning with the principle of Minimizing Financial Risks and Maximizing Business Opportunities in Vietnam’s maritime transport and petroleum logistics industry.