Thuan Hai Corporation (Vietnam)

In 1995, Martech Joint Stock Company (specializing in producing boilers) was established by Mr. Duong Quoc Bao, doing business successfully. Realizing that selling boilers to customers always requires fuels such as coal, rice husks, etc., so in 2008, Thuan Hai Corporation (the subject) was established. Until 2015, it has had a development of warehousing systems through establishment of Cai Mep General Port Company Limited. In particular, it expanded operation to the Philippines by setting up Thuan Hai Philippines Corporation in 2018. In 2021, Thuan Hai Commodities Corporation, S&S Glove Corporation and Thuan Hai Energy Corporation were formed. In 2022, a new member named Thuan Hai Energy Bien Hoa Company Limited was also born in Dong Nai Province. All the above members have created an ecosystem called Thuan Hai Group.Being in Top 3 coal importers since 2014, Thuan Hai Corporation engages in supplying products for energy industry including fuel (coal and biomass fuel such as rice husk pellet, palm kernel shell & wood chip), steam, heat, electricity & boiler operation. In 2020, the company released more than 122 boilers at 52 factories, produced more than 2 million tons of steam and imported more than 2 million tons of coal, along with the company's development in logistics, seaports, and warehousing systems. Some customers are Ajinomoto, Hyosung, Knauf Gypsum Philippines, New Wide, TCE - Cogeneration plant, Acecook,… In 2021, the subject increased the number of customers in Cambodia and Laos but its main customers are still manufacturing companies in industrial parks.