•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Vosco Joint Stock Company (VOS), Vietnam’s maritime transport firm, has released its 2026 annual general meeting (AGM) materials outlining a cautious business plan amid ongoing volatility in global shipping markets. The company targets revenue growth of nearly 40% in 2026, but expects pretax profit to decline due to the absence of one-off gains previously generated from vessel disposals.
In 2025, Vosco reported revenue of VND 3,485 billion and pretax profit of VND 381 billion. Compared with the prior year, revenue fell 37% and pretax profit declined 9%. Despite the weaker earnings, the company said it will maintain its cash dividend policy of 9%.
For 2026, Vosco aims for revenue of VND 4,851 billion, up 39% versus 2025 actual results. However, the company expects pretax profit to reach VND 275.5 billion, down nearly 28%.
Vosco attributed the profit decline primarily to the absence of one-off gains from ship disposal. In the previous year, the company recorded significant profits from selling two vessels, Vosco Star and Vosco Unity.
Vosco said the shipping market is likely to remain exposed to uncertainties, including trade tensions, geopolitical conflicts, and volatility in fuel costs. The company noted these factors could affect global trade flows, increase operating costs, and pressure fleet utilization.
By segment, Vosco reported that the dry bulk market faced difficulties in the first half of 2025 due to oversupply and lower freight rates, before improving in the second half. The tanker segment saw large fluctuations, while the container segment maintained positive efficiency supported by rising consumer demand and optimized operations.
To support growth, Vosco plans to continue expanding its fleet and diversify cargo types, including coal, ore, cement, clinker, and agricultural products. The company also intends to accelerate digital transformation to improve governance efficiency and reduce risk.
Its 2026 investment plan includes adding four MR-size product tankers, four Ultramax dry-bulk vessels, and two container ships through newbuilds or acquisitions. Vosco also plans to restructure by dissolving several inefficient units and establishing a subsidiary focused on ship management.
On the stock market, VOS shares have pulled back after a strong rally in early March 2026. The price fell from about VND 18,500 per share to around VND 12,600 per share in morning trading on 28 April, corresponding to a market capitalization of about VND 1,764 billion.
Overall, Vosco’s 2026 plan continues to prioritize fleet expansion and operational capacity, but the company warned that profitability may be affected by the lack of one-off income from asset sales. The company’s outlook reflects the cyclical nature of maritime transport earnings and the role of vessel restructuring activity in financial results.
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…
