Vietnam Ocean Shipping Joint Stock Company (Vosco) has approved an investment plan of nearly 1.86 trillion VND to purchase 2 MR oil product ships from China. The first ship, Celsius Portsmouth, has a deadweight tonnage of 50,300 DWT, expected to be purchased for up to 37 million USD (approximately 954 billion VND), with a payback period of 11.6 years if operated independently. The second ship, Celsius Philadelphia, with the same tonnage, is expected to cost 35 million USD (approximately 902 billion VND), with a payback period of 9.4 years if operated independently. Vosco plans to borrow about 1.3 trillion VND to fund the ship purchases, with an interest rate of 7% in the first year and 8.5% in subsequent years. Both ships are being built in Jiangsu Province, and if successful, Vosco will fulfill half of its target to buy 4 MR oil ships, increasing its total fleet to 18 vessels. The company aims for a revenue of 5.3 trillion VND in 2025, a slight decrease from the previous year.
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