Pilatus Marine to expand LPG marine transport across Asia
Pilatus Marine, Thailand’s leading liquefied petroleum gas (LPG) marine transport operator, is set to expand its services throughout Asia. The move forms part of a strategic initiative to increase its customer base and cater to the rising demand for marine transport of LPG and olefins, a crucial ingredient in plastic production.
According to Chief Executive, Varawit Chimtawan, the expansion is slated to occur between 2024 and 2027, during which Pilatus Marine will replace its current fleet of 11 vessels. The aim is to reduce operational costs related to maintenance and fuel while simultaneously increasing freight fees.
In addition to replacing the existing fleet, the company plans to introduce three larger vessels to its marine transportation portfolio. This addition is specifically targeted at LPG and olefins traders seeking large ships with a carrying capacity ranging from 3,500 to 5,000 cubic metres.
Pilatus Marine has earmarked 120 million baht for the vessel replacement project, with an additional 400 million baht set aside for the acquisition of larger vessels. Varawit also highlighted the potential for Pilatus Marine to transport petrochemical products, given the escalating demand in Vietnam, India, and China. These countries are witnessing a significant rise in the need for everyday plastic products, fueled by the growth of their respective petrochemical industries.
Last year, Pilatus Marine bolstered its land transportation capacity with the purchase of 43 new trucks for LPG transport. The company recognises the importance of expanding overseas as the domestic LPG transport market is projected to plateau in the future.
Varawit revealed that domestic LPG transport via road has seen minimal growth, with instances of decline in certain years. He forecasts a modest annual growth of 4.6% in LPG road transport from 2020 to 2030, reported Bangkok Post.
In related news, tourism operators in Thailand urged authorities for improved marine safety and tighter regulation following recurring boat accidents, raising concerns about tourist confidence.
