PetroVietnam Transportation : Response to Vietnam-flagged tankers transporting Venezuelan and Iranian oil

On February 18, 2021, an online maritime journal reported that some Vietnam-flagged tankers involved in transporting Venezuelan and Iranian crude oil, including PVT Aurora and PVT Dolphin, both of which are currently managed and operated by Southern Petroleum Transportation Joint Stock Company - a subsidiary of PVTrans (known as 'SPT'). Regarding this issue, after seeking confirmation from SPT, we are pleased to clarify as follows:

PVT Aurora (20,000 DWT) and PVT Dolphin (46,000 DWT) were designed to carry oil/ chemicals, not crude oil. PVT Dolphin has been hired by a Scottish customer under a time charter since 2019, mainly transporting clean petroleum products (CPP) in the Gulf and Southeast Asian region. PVT Aurora has been hired by a Korean charterer for international routes from November 2019 until now, mainly transporting chemicals. These items are for residential use only and do not serve the customers on the list of entities sanctioned by the US government (OFAC).

Under a time charter, the source of cargoes and routes are arranged and determined by the charterer, and the chartered tanker is responsible for the safe and in-time transportation. Currently, PVT Aurora and PVT Dolphin are transporting CPP and Sulfuric Acid in the Mediterranean region, neither in Iran nor Venezuela. SPT confirmed that the two tankers were not involved in transporting Venezuelan and Iranian crude oil.

In their business activities, SPT always ensures safe and efficient operation, meets the highest requirements from customers and fully complies with international maritime laws.

Given that the shipping market is now facing difficulties due to the Covid-19 pandemic and oil price fluctuation, in addition to ensuring efficient operation, PVTrans warns its subsidiaries not to operate in high-risk areas. At present, PVTrans continues to direct subsidiaries to inspect, review and work with charterers to ensure that PVTrans' tankers do not transport for entities sanctioned by the US.

As the leading shipping company in Vietnam with 80% of the vessels operating internationally, PVTrans has been actively investing in rejuvenating the fleet and aiming to develop markets of higher-end segments in Europe, America, Japan ... Throughout our development, PVTrans is committed to ensuring safe and efficient operation, maximizing benefits to shareholders and employees and simultaneously complying with the Vietnamese and international laws and regulations.

PVTrans

• Công đoàn PVTrans tổ chức 'Đêm hội Trăng rằm 2019' cho con CBCNV Tổng công ty và các đơn vị thành viên khu vực TP. HCM
• PVTrans donates gifts to poor people for the Tet holiday