•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
In early February 2026, the Lac Da Vang (LDV) floating storage unit (FSO LDV) serving the Lac Da Vang oil field was officially launched at the Nantong StrongWind yard. The facility is designed to store more than 500,000 barrels of crude oil, with a deadweight tonnage of over 74,000 DWT and a hull life of 20 years.
As of the launch, the project had logged nearly 2 million man-hours of safe construction, reflecting the risk-management capability of the execution team.
In Southeast Asia and Vietnam’s offshore markets, standard floating storage capacities range from 350,000 to 700,000 barrels. The 500,000-barrel design of the Lac Da Vang project is calculated to optimize reception, storage, and crude export throughput for mid-sized fields.
The stability from the floating storage services segment continues to contribute to PVS’s margins in the early months of the year. The Q1 2026 consolidated financial statements show net revenue of 8,698.7 billion VND, up 44.6% year-on-year. Net profit stood at 435.3 billion VND, up 45.28%.
Direct contribution from the FSO/FPSO provisioning division delivered 813.6 billion VND in revenue and 43.5 billion VND in gross profit.
Additionally, profits from joint ventures and associates operating in the floating storage segment added 156.8 billion VND to the overall profit. As of March 31, 2026, assets of this division remained at 4,542 billion VND.
The completion and readiness to bring the Lac Da Vang floating storage into operation continues to reflect PVS’s share of the market in offshore technical oil-and-gas services.
Through joint ventures such as MVOT, VOFT, PTSC SEA and PTSC AP, the company currently directly manages and operates an asset portfolio that includes FSO Orkid, FSO Golden Star, FPSO Ruby II, and FSO PTSC Bien Dong 01.
The capability to oversee the full value chain—from investment and new-build supervision to long-term operation and maintenance—underpins the company’s leading position in the domestic floating oil-storage services segment.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
