PSL orders four new ships worth a combined 4.767 billion baht, with delivery set for 2030-2031

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Precious Shipping Public Company Limited, or PSL, informed the Stock Exchange of Thailand that the company has signed four newbuilding contracts for four Ultramax dry bulk carriers of 64,500 deadweight tons each with Taizhou Sanfu Ship Engineering Co., Ltd. of China. Delivery will be staggered during 2030-2031, namely on 30 April 2030, 31 July 2030, 31 October 2030 and 31 January 2031, respectively, and all the vessels will fly the Singapore flag. The contract price for each vessel is 35.45 million US dollars, bringing the total value of the four vessels to 141.80 million US dollars, or approximately 4.767 billion baht. Payment will be made in installments tied to construction progress, split into 25%, 15%, 10%, 10% and a final 40% installment upon delivery of the vessels. Funding is expected to come from the company's internal cash flow and loans from financial institutions. The transaction size represents approximately 15.77% of total assets according to the consolidated financial statements as of 30 June 2026, and the transaction does not constitute a material or connected transaction under the criteria of the Capital Market Supervisory Board. PSL stated that this newbuilding order is in line with its policy of reducing the average age of its fleet by adding new-generation vessels with higher fuel efficiency, which have been developed from earlier Ultramax models with improvements in cargo capacity, propulsion systems, the installation of shaft generators, and hull design refinements to boost energy efficiency, cut greenhouse gas emissions and strengthen long-term competitiveness. After taking delivery of all four new vessels, together with two other newbuildings the company ordered earlier but has not yet received, PSL's fleet will rise to 47 vessels with a total deadweight tonnage of approximately 2.34 million deadweight tons.

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Taizhou Sanfu Ship Engineering Co., Ltd.Private▲ Positive
Demandrelevance

Taizhou Sanfu Ship Engineering won the order to build four 64,500 dwt Ultramax bulk carriers for PSL.

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