An additional Aframax crude oil tanker acquisition in 2008

On 29th August 2008, Vietnam Prime Minister has approved PVTrans’ crude oil tanker acquisition, to allow the investment of an Aframax tanker.

To timely meet the transportation tasks for Vietnam Oil Refinery No.1 (Dzung Quat Oil Refinery), which begin commissioning in 2009, the investment of an Aframax tanker will ensure the continuous and stable operation of the Refinery.

PVTrans’ Aframax tanker - MT. Poseidon M

The vessel acquisiton plan is being processed. PVTrans expects to take delivery of the vessel by the end of 2008 – beginning of 2009.

Thanh Hai