Vinalines posts profit of US$900,000 in the first nine months of 2018
State-run Vietnam National Shipping Lines (Vinalines) recorded revenue of VND11.73 trillion (US$502.36 million) in the first nine months of 2018, and a profit of VND21 billion (US$900,000), announced the firm in a meeting on October 12.
During the period, the shipping firm handled 62.93 million tons of cargo at domestic ports and transported another 18.66 million, equivalent to 64.1% and 86.9% of the year plan, respectively.
Vinalines currently manages and operates a diverse fleet including container ships, bulk carriers, oil tankers, and other types of cargo vessels. The Vinalines fleet has large bulk carriers up to 73,000 DWT, 1,800 TEU container ships, and 50,000 DWT oil tankers.
Of the total of 130.9 million tons of cargo shipped last year by Vietnamese vessels, Vinalines’ fleet took 20.2%.
Overall, the firm saw its debt reduced by VND10.6 trillion (US$440 million) in period 2014 – 2017, according to Le Quang Trung, vice general director of Vinalines.
In the first six months this year, Vinalines posted revenue of VND533 billion (US$22.83 million) and net loss of VND1.14 trillion (US$48.83 million). For the remaining six months, Vinalines targeted profit of VND143 billion (US$6.12 million).