PRM Aims for 10% Income Growth in 2021, Budgeting ฿2Bn for Investing in New Vessels

PRM expects to achieve a revenue growth target of over 10%, buoyed by the company’s core business and the acquisition of Thaioil Marine with an expected timeline for completion in 2Q21 and. Furthermore, PRM set aside about 2,000 million baht for investing in new ships.

 

Mr. Viritphol Churaisin, Chief Financial Officer of Prima Marine Public Company Limited (PRM), revealed that the company projected a core revenue in 2021 to grow more than 10%, compared to the revenue of 5,925.8 million baht in 2020, mainly contributing by its integrated service of marine transportation and an investment in Thaioil Marine Company Limited (TM).

 

For the year 2021, PRM planned a 2,000 million baht budget for the floating storage unit (FSU) business, expecting to invest in 3-6 new ships. Currently, PRM has 40 vessels divided into 30 domestic cargo ships, 1 international cargo ship, 8 FSU vessels and 1 offshore support vessel. 

 

PRM operates a business of marine transportation and provides services of shipment and floating storage units of crude oil, refined oil products, and liquefied petrochemicals in both domestic and international.