Thailand’s Precious Shipping Public Company Limited (PSL) has announced the acquisition of a second-hand medium range (MR) tanker by Precious Horizon, a wholly-owned Singapore subsidiary of the company.
The company said that its subsidiary has completed the signing of memorandum of agreement on February 11 for the acquisition of the 47,999-dwt MR tanker Florence, built in Japan in 2006.
The purchase price of the vessel is $11.10m or about THB344.62m which is the market price.
The delivery date is scheduled between 20th of February and 15th of March 2026.
Precious said the acquisition forms part of the company’s strategic initiative to diversify its fleet portfolio into the tanker segment in order to broaden revenue streams beyond the dry bulk sector.
This investment supports the company’s long-term business resilience, Precious added, by expanding into a complementary shipping segment with different demand drivers and chartering dynamics.
PSL’s fleet renewal:
PSL commenced fleet renewal by selling four of its older and non-eco ships in 2024. It continued that trend and sold another four older and non-eco ships in 2025 (two delivered in 2025 and two delivered in January 2026).
It also took delivery of five second-hand, younger, larger (almost 40K dwt each) and eco engine ships in 2024.
The company also purchased 4 ultramax new build ships from the yard, Taizhou Sanfu, in China (for delivery between 2026 and January 2027).
It has also taken delivery of three modern (less than 5-year-old) ultramax ships during 2025 (one standard size built in China, and two larger 66K dwt ultras built in Japan). Furthermore, PSL purchased two new resale 66K dwt ultras built at Yamic Shipyard in China that were delivered on 15 and 19 of January 2026.
