In order to modernize the Company’s fleet in accordance with international conventions and to increase competitive competence in sea transport, the Company has signed a Memorandum of Agreement No.01/VIPCO-Q.S.C with Qatar Shipping Company to buy the M/T ALNOMAN, a product tanker of 37.256 DWT, valued USD 47.350.000. The new tanker will be named PETROLIMEX 10. The tanker was built on Korean Shipyard in 2003. M/T PETROLIMEX 10 is a shallow draft double hull tanker which being in good condition with high automation that the tanker will be in compliance with international conventions and suitable with operational conditions in Vietnam. As planned, the M/T PETROLIMEX 10 will be delivered and put in operation in early February 2007, making a new status and capacity for the Company in its development.