Pilatus Marine, the premier liquefied petroleum gas (LPG) marine transport operator in Thailand, is poised to extend its services across Asia. This expansion is a strategic endeavor aimed at enlarging its clientele and meeting the growing need for marine transportation of LPG and olefins, essential components in plastic manufacturing.
Chief Executive Varawit Chimtawan has announced plans for expansion between 2024 and 2027, during which Pilatus Marine will phase out its existing fleet of 11 vessels. The objective is to cut down on operational expenses linked to maintenance and fuel while also boosting freight fees.
Aside from the fleet replacement, the company intends to integrate three larger vessels into its marine transportation lineup. These additions are aimed at catering to LPG and olefins traders in need of sizable ships with carrying capacities ranging from 3,500 to 5,000 cubic meters.
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.
Pilatus Marine enhanced its terrestrial transportation capabilities last year through the acquisition of 43 new trucks designed for LPG transport. Acknowledging the anticipated leveling off of the domestic LPG transport market, the company emphasizes the significance of venturing into international expansion.
Varawit disclosed that there has been limited expansion in the domestic transportation of LPG by road, with occasional decreases observed in certain years. He anticipates a moderate annual increase of 4.6% in LPG road transport from 2020 to 2030, as per the Bangkok Post. In a connected development, tourism industry stakeholders in Thailand have called upon authorities to enhance maritime safety measures and enforce stricter regulations in response to recurrent boat accidents, citing worries regarding tourist trust and confidence.