“Primamarine” continues to expand its fleet

“Primamarine” expects the performance of the second half of the year to grow more than the first half of the year. After expanding the fleet with 3 new ships – the utilization rate of ships has improved. This year’s revenue has increased by 10% from the previous year. Ready to move on to further fleet expansion – Explore additional acquisitions for long-term growth

Bowon Wongsinudom Chairman Prima Marine Public Company Limited or PRM It revealed that the operating results of the second half of the year 2022 will grow from the first half with a revenue of 3,211.67 million baht and a net profit of 472.34 million baht because the company has expanded its fleet by 3 more ships, with a total investment of 1,896 million baht , that the 2nd VLCC will begin service June 5, 2022, the 2nd AWB, will begin service June 16, 2022, and the 3rd VLCC, will begin service September 9, 2022. Crew Utilization 13 Vessels will increase by 83% in the first 6 months to 100%.

Including in the third quarter of 2022, the company will record a profit from the sale of one VLCC vessel worth billions of baht. At the end of the second quarter of 2022, the company has a fleet of 59 vessels.

Meanwhile, the company’s revenue target for this year still targets a 10% growth from the previous year with a revenue of 6,471.61 million baht due to the expansion of all groups of ships, especially petroleum transport and storage ships such as the float (FSU) has started to return. recovery supports the profit margin for the 2022 progress year

“The company does not limit itself to domestic growth. but saw an opportunity to grow abroad The company is looking to expand more international transport customers. because the international market is big Ready to move on to expand more fleet and continue to study acquisitions

Bowon Mr He said the past two years of doing business have been a challenge for port fleet managers to cope with market changes amid the COVID-19 crisis. and the risk of highly volatile oil prices The company has brought experience and expertise.

As an industry leader with flexible management principles to manage various fleet ports in line with market demand create stable growth and be stable and ready to look for investment opportunities to improve service capability and drive operating performance to grow continuously

For the acquisition of True Maritime Company Limited or TM (formerly Thai Oil Marine Company Limited), which is a subsidiary of the Thai Oil Group. It is a key strategic investment for PRM that will drive long-term growth. of a strategic alliance with Thaioil Group Serving international petroleum tankers with 3 VLCC tankers of 300,000 DWT under a 10-year contract, which will help build the company’s income stability.

At the same time, this acquisition will also enhance our service capabilities to accommodate business opportunities. o acquiring 5 petrochemical tankers with increased demand for services and 13 offshore exploration and production crew vessels (crew vessels) to support increased maritime activities. This is considered to be a modification of the port fleet that makes the company able to overcome challenges and have the strength to better manage the risks of economic uncertainty from internal and external factors

The Company can expand its customer base from the Crew Boat service, which currently has a full service rate of 100%, with a long-term contract from May. In the past, the Cymorth ar y Môr business group has grown well and is one of the businesses that will help create good growth from now on. as well as the international shipping business group The Company has provided 3 VLCC vessels to Thaioil Group for a period of 10 years, which will also support long-term revenue stability.

“The acquisition of TM is a significant investment that will benefit our business operations even further. This allows us to support economic expansion during the Post-Covid period and push the company into a new round of Growth Model with stable and sustainable growth results.”

Chainoi Puankosoom, Chairman of PRM’s Audit Committee, said the company’s business strategy is to maintain its leadership in the industry. with a diverse fleet strength of ports ready to expand investments that will drive growth By investing in TM in the past, the company is able to drive the international shipping business group and the offshore support shipping business group to generate more income . And supporting the overall operation of the company is strong. At the same time, fleet management is a key strategy for the growth of the company. in all market conditions Aim to meet customer needs the best together with effective cost management

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