Vietnam Container Shipping JSC (Viconship) has successfully transferred 8.82 million shares of Đình Vũ Petroleum Service Port (PTSC Đình Vũ) through a negotiated agreement, achieving a minimum transfer value of VNĐ88.2 billion (US$3.6 million).

After the transaction, Viconship's stake in PTSC Đình Vũ reduced from 22 per cent to zero.

In 2023, PTSC Đình Vũ emerged as a top performer in terms of net profit growth within the maritime port and logistics sector, achieving a profit after tax of VNĐ8.7 billion, a remarkable 91-fold increase from 2022.

For 2024, the company has set a target of VNĐ239 billion in gross revenue, mirroring the previous year's performance. It aims for a net profit exceeding VNĐ9 billion, reflecting a slight five per cent uptick.

Undistributed profits from 2023 have been transformed into VNĐ5.7 billion, with a total profit distribution plan of VNĐ14.8 billion. The projected dividend payout ratio stands at three per cent, amounting to VNĐ12 billion.

PTSC Đình Vũ was one of Viconship's three affiliated companies, alongside Đà Nẵng Port Logistics JSC and VIMC Đình Vũ JSC.

As of June 30, Viconship owned a 22 per cent share in PTSC Đình Vũ, valued at over VNĐ93.4 billion on the books, with a fair value of VNĐ92.6 billion.

Previously, Viconship has been actively divesting from various investment projects.

On August 2, the company publicly announced its decision to completely divest from T.S Container Line Company Limited. Towards the end of June, Viconship's Board of Directors resolved to liquidate the investment and business cooperation contract related to the Hyatt Hotel project in Hải Phòng Province.

Conversely, Viconship is proactively increasing its stake in Nam Hải Đình Vũ Port. On July 18, it announced the successful completion of a transaction to acquire capital contributions from the existing members of Nam Hải Đình Vũ Port SJC.

This move has elevated Viconship's ownership to VNĐ399.999 billion out of a total VNĐ400 billion charter capital of Nam Hải Đình Vũ Port, corresponding to an impressive 99.999775 per cent stake in the company.

The decision to raise ownership in Nam Hải Đình Vũ Port to one hundred per cent was endorsed by Viconship's shareholders during the Annual General Meeting held in early June.

Viconship said that acquiring Nam Hải Đình Vũ Port has positioned Viconship as the foremost port enterprise in the province, with a substantial total capacity of approximately 2.6 million TEUs and having 30 per cent of the market share.

Since 2023, Nam Hải Đình Vũ Port has been contributing profits to the overall company.

As per the 2024 projections, Nam Hải Đình Vũ Port is anticipated to generate profits amounting to VNĐ100 billion.

On the stock market, Viconship’s shares closed Wednesday at VNĐ17,200 per share, up 0.29 per cent. — VNS