HCMC-based firm acquires $10 mln loan from Shinhan Bank to buy LPG ship
International Gas Product Shipping JSC, listed on the Ho Chi Minh Stock Exchange (HoSE) as GSP, has secured a loan of VND240.1 billion ($9.6 million) from Shinhan Bank Vietnam.
In a filing sent to the HoSE earlier this week, Ho Chi Minh City-headquartered GSP said the move aims to facilitate its purchase of a liquefied petroleum gas (LPG) shipping vessel with a carriage of 5,000 cubic meters.
![An LPG vessel of GSP. Photo courtesy of the firm.](https://i.ex-cdn.com/theinvestor.vn/files/content/2024/08/17/gsp-lpg-vessel-1100.jpg)
An LPG vessel of GSP. Photo courtesy of the firm.
Currently, GSP’s fleet features six LPG carriers between 1,800 and 5,000 deadweight tonnages and two other oil/chemical vessels of 20,000 DWT each. At its 2023 review, GSP said for 2024, it aims to purchase two LPG carriers of up to 7,500 cubic meters.
Half of GSP fleets are operating internationally and the other half serve both the domestic and foreign markets, GSP added. GSP’s major customers in Vietnam are PV Gas, the gas arm of state-run Petrovietnam; and Binh Son Refining and Petrochemical JSC (BSR), operator of the Dung Quat oil refinery.
In the first half of this year, GSP earned a pre-tax profit of VND75.1 billion ($3 million) on revenue of VND1,092 trillion, exceeding the plan by 30% and 28%, respectively.
GSP shares gained 3.49% to VND13,350 ($0.53) at the close on Friday.
- Read More
Vietnam’s 2024 credit growth target of 15% attainable: official
The State Bank of Vietnam (SBV), the country's central bank, is confident in achieving the credit growth target of 15% this year despite a sluggish start, SBV Deputy Governor Dao Minh Tu said, citing a more optimistic economic outlook.
Banking - Sun, September 8, 2024 | 4:20 pm GMT+7
Singapore firm to implement $80 mln freeze-dried instant coffee project in central Vietnam
Future Enterprises Pte. Ltd, a subsidiary of Singapore-based Food Empire Holdings Group, has won a license to build a freeze-dried instant coffee plant with an annual capacity of 5,400 tons in the central province of Binh Dinh.
Industries - Sun, September 8, 2024 | 1:33 pm GMT+7
Vietnam art market dominated by Vietnamese buyers a collector’s dream come true
Ten years after I wrote an article titled "Playing and buying paintings," the Vietnamese art market has evolved significantly.
Society - Sun, September 8, 2024 | 11:04 am GMT+7
Super typhoon Yagi kills at least 8 in northern Vietnam
Super typhoon Yagi has claimed at least eight lives and left nearly 200 others injured after making landfall in northern Vietnam on Saturday.
Society - Sun, September 8, 2024 | 10:12 am GMT+7
Vietnam outbound investment shrinks 64.6% to $147 mln in Jan-Aug
Outbound investment by Vietnamese companies dropped 64.6% year-on-year to $147.3 million in the first eight months of this year, according to government data.
Industries - Sun, September 8, 2024 | 9:58 am GMT+7
Vietnamese SMEs can make products with global appeal: Amazon exec
Made-in-Vietnam products that appeal to global consumers can come from small and medium-sized enterprises (SMEs), not necessarily large companies, says Natalie Thuan Ngo, head of business development, Amazon Global Selling Vietnam.
Economy - Sun, September 8, 2024 | 7:55 am GMT+7
Super typhoon Yagi devastates Hanoi
Typhoon Yagi made landfall in Hanoi on Saturday evening, bringing powerful winds of 89-102 km per hour and heavy rainfall. The storm caused widespread flooding and downed numerous trees.
Southeast Asia - Sat, September 7, 2024 | 10:17 pm GMT+7
Vietnam finance ministry urged to seek $4 bln of bonds for strategic infrastructure development
The Vietnamese Ministry of Finance has been requested to mobilize another VND100 trillion ($4.06 billion) worth of bonds for strategic infrastructure development.
Economy - Sat, September 7, 2024 | 7:14 pm GMT+7
FTSE Russell adds three Vietnam tickers to flagship index
Global index provider FTSE Russell has added three Vietnamese stocks to its FTSE Vietnam Index, the underlying index of the FTSE Vietnam ETF.
Finance - Sat, September 7, 2024 | 5:08 pm GMT+7
PV Gas launches first LNG train on south-north railway route
PV Gas officially inaugurated its first liquefied natural gas (LNG) train shipment from the south to the north of the country on Friday, marking a milestone in Vietnam’s gas industry.
Companies - Sat, September 7, 2024 | 1:48 pm GMT+7
Vietnam's Jan-Aug CPI up 4.04%
Vietnam's consumer price index (CPI), an indicator of inflation, went up 4.04% year-on-year in the first eight months of this year, remaining unchanged in the last two months (July and August).
Economy - Sat, September 7, 2024 | 1:37 pm GMT+7
Vietnam state-run airport developer ACV has new chairman
Vu The Phiet, CEO of state-controlled Airports Corporation of Vietnam (ACV), has been named chair of the company - the operator of 22 airports across the country.
Companies - Sat, September 7, 2024 | 12:07 pm GMT+7
Super typhoon Yagi: Flash floods and landslides warnings issued for some northern Vietnam provinces
Northern Vietnam will experience heavy rainfall, with some localities receiving exceptionally heavy precipitation, from Saturday through Monday morning due to the super typhoon Yagi, according to the National Center for Hydro-Meteorological Forecasting.
Society - Sat, September 7, 2024 | 11:50 am GMT+7
SpaceX seeks to provide Starlink satellite internet services in Vietnam
U.S.-based tech giant SpaceX is ready to invest and provide its Starlink satellite internet services in Vietnam, says a senior executive, as the Southeast Asian country seeks to boost its digital economy.
Infrastructure - Sat, September 7, 2024 | 11:07 am GMT+7
Vietnam’s first tech unicorn VNG appoints acting CEO
Vietnam’s first tech unicorn VNG Corporation on early Saturday morning announced the appointment of deputy CEO Kelly Wong as acting CEO.
Companies - Sat, September 7, 2024 | 9:15 am GMT+7
Central Vietnam province to receive bids for $2.2 bln LNG-fired power plant
Vietnam's central province of Nghe An will receive bids for the 1,500-MW Quynh Lap LNG-fired power plant from September 20 to October 5.
Energy - Sat, September 7, 2024 | 8:07 am GMT+7