Thailand Maritime News, August Summary

Thailand intent on supporting nation’s carriers
August 30, 2021 Maritime Department of Ministry of Transport of Thailand has reviewed and detailed its’ plan to gear up full potential of Thailand Merchant Marine, in order to achieve nation’s ambitious maritime goals. Thailand is planning to increase the growth rate of its’ commercial fleet, and with that, increase the share of nation’s carriers in overall cargo turnover. Increasing commercial fleet will create more jobs for homeland sea labor.
Comment: Turning to national carriers as the way out of series of crises which shock international shipping and send rates through the roof, is already a trend worldwide. Modern international shipping industry, as it is, has become a dire threat to nations economies and sovereignty itself. Industry is controlled by monopolistic multinational giants and absolutely corrupt “legislative” structure, run by uncontrolled international maritime bodies and hordes of NGOs. Any nation still planning to remain independent in future, will have to secure its’ foreign trade from the dictate of shipping “leaders”, the sooner the better.

"Hutchison Ports" at the beginning of the year grew by 10%
Bangkok, Thailand –26August 2021:
Hutchison Ports Thailand(“HPT”), a leading port operator in Thailand, announces an increase of throughput volume during the first half of 2021 by 10%year-on-year. During this period, Thailand’s import increased by 26.2%, while exports saw an uplift of 15.5% by value as Thailand exports recovered from 2020 levels.
Overall Thailand’s export value totalled USD 132.3billion in the first six months of the year1.HPT’s throughput increase is, in part,a result of its ability to service Ultra Large Container Vessels (ULCV), including the MSC MINA with a total capacity of 23,656 TEU2. These ULCVs constituted 12% of all vessels call at HPT in the first half of 2021.
In 2020,HPT handled over 3 million TEU, a 30% market share in Thailand. The company employs over 1,300 people, using 23 ship-to-shore cranes at its terminals across Laem Chabang Port.
HPT is the largest port operator at Laem Chabang Port, and plans to expand capacity at the port to approximately 6.75million TEU in the next few years. Laem Chabang, Thailand’s principal port and the gateway for the nation’s imports and exports, is the 20thlargest port in the world, and the 4thlargest in Southeast Asia, with a total of 7.6 million TEU handled in 2020.
Thailand handled a total of 10.5 million TEU during 2020.Over 500 vessels have used HPT’s terminal facilities in the first half of 2021, including Ultra Large Container Vessels with a capacity of over 12,500 TEUs. In 2021 HPT handled the discharge of MRT Blue Line trains and autonomous trains for the BTS Gold Line project, as well as assisting the loading of an offshore oil processing platform.
Hutchison Ports Thailand (HPT) is specially designed to facilitate Thailand’s growing container traffic. It is situated in Laem Chabang Port.

Dry sector false assumptions
Thoresen Thai Agencies Plc. (TTA) demonstrated strong results in the first half of 2021, and a stable growth, according to TRIS Rating Co., Ltd. (TRIS Rating - the first credit rating agency in Thailand) estimations. TRIS expects TTA to perform as well or better in second half, on assumption that dry bulk sector, basically, will continue its’ upward rally.
In the first half of 2021, the Baltic Supramax Index (BSI) rose to 1,910 from 548 in the same period last year. At the same time, the company's average Time Charter Equivalent (TCE) cost nearly doubled to $14,872. per day per ship compared to $7,662 per day per ship during the same period of the previous year. TRIS, along with other analytics, believes, that dry bulk sector will enjoy favourable supply/demand ration during next 12-18 months.
TRIS estimations, like any other industry analysis issued by any other industry analytic agency, is overwhelmingly optimistic, and basically, flawed. All analysis are built on assumptions, that “pandemic” is what it is – pandemic, without any sinister agenda behind it; that all intl bodies and governments are “fighting the pandemic” with the best intentions in mind; that China will continue its’ recovery and economy growth; that “stimulus packages” are the drivers of rebounding economy; etc. In other words, estimations and assumptions which feed their optimism, are groundless and misleading. Dry bulk and container sectors upward rallies are driven not by healthy recovery, but by malpractices and open sabotage. On the face of it, it’s a recovery. In reality, it’s a temporary upsurge before final collapse, if the world and the governments don’t recover common sense and the pursuit of nations’ best interests, as their main and only goal.

Regional Container Lines (RCL) 2Q results (1 THB = $0.031)
2Q21 RCL posted a profit of THB 3.2 billion, 14-time of what was seen in the same quarter last year. RCL raised the volume handled in 2Q21 by 15% from last year, totalling up to 535,000 TEUs. The average freight rate per TEU had improved by an astonishing 76% from the 2Q20. Total revenue in 2Q21 hiked to THB 7.9 billion, double that of 2Q20.
For the first six months, the average freight per TEU was THB 14,266, a 68% hike from a year earlier. With a 10% increase in volume, RCL recorded THB 15 billion of revenue or 86% over the prior year. Accumulatively, RCL saw a total profit of THB 6.1 billion in 1H21, from THB 228 million in the same period last year.
About RCL
Founded in 1979, RCL is a Thai based container shipping line. RCL currently owns and operates a fleet of 45 vessels with sizes ranging between 200 TEUs and 6621 TEUs. It also has a fleet of 115,744 TEUs to support its own COC carriage as well.

PSL Q2
Precious Shipping Plc. (PSL) reported more than 4% profit in Q2, with 826 mil Baht net profit increase from last year’s Q2 figures, thanks to freight rates rally.
Precious operates a fleet of 36 bulker carriers of handy, supramax and ultramax types.

VL ENTERPRISE comes up with 3-year plan
Bangkok-based tanker fleet operator, VL ENTERPRISE PLC, is rolling out its’ 3-year plan for years 2021-2023, with an aim of increasing its’ fleet to 14 tankers, while replacing old tankers with new ones. Company is to receive a new, 12,000-ton tanker, this year. As for financial targets, company still hopes it will managed to achieve 15-20% revenue growth in 2021, notwithstanding economy suffering from negative effects of “pandemic” new and old waves and variants, or to be correct, “fighting the pandemic” practices, heavily hitting both nation’s economy and people.
VL ENTERPRISE PLC presently operates a fleet of 13 small-sized tankers.

13 Aug. 64 9:16: a.m.
PRM reveals Q2/21 net profit of 407.03 million baht, a decrease of 7.7% after FSU boat service rates declined according to market conditions. And the price of fuel has increased. Tribute for the 6-month period of year 64 has a profit of 807.32 million baht, an increase of 13.95%.

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