SET-listed Prima Marine, a provider of marine transport and crude oil and petroleum product storage, is expanding its fleet of vessels to serve growing demand for transport services in Southeast Asia.
Viritphol Churaisin, Prima Marine's chief financial officer, said the company will acquire both small and very large tankers.
For the large tankers, also known as floating storage units (FSU), Prima Marine plans to buy second-hand FSUs as well as new chemical tankers.
The company expects to finalise the model of chemical tankers it wants to buy by the middle of next year.
The new tankers are scheduled for operation between late 2024 and mid-2025.
Prima Marine will also adjust its purchases of second-hand large vessels, he said. Previously the company bought vessels no older than 15 years, but it has now agreed to increase the age limit to 18 years to save on costs because this type of vessel is very expensive.
In the small vessel category, Prima Marine aims to buy new offshore support vessels, also known as crew boats, to serve growing demand from oil and gas exploration and production firms.
"We see competition in this market as blue ocean, with strong demand from companies in the Gulf of Thailand," said Mr Viritphol.
The company expects to make a final decision on the boat models and select a shipyard by early next year.
The plan is for the boats to start operating between late next year and early 2024, he said.
Next year Prima Marine expects to provide services through its fleet of 63 vessels.
The company earlier took over Thai Oil Marine, a subsidiary of Thai Oil Plc, Thailand's largest oil refinery by capacity, at a cost of 4.37 billion baht in a move to expand its marine fleet.
