Precious Shipping

What Precious Shipping does

Precious Shipping Public Company Limited (SET: PSL) is a Thai-domiciled, pure-play dry bulk shipowner founded in 1989 and headquartered in Bangkok. The company operates a fleet of small handy-size vessels providing global dry-bulk transportation services predominantly in the tramp freight market, where vessels are employed on either time charter (fixed daily rate for a defined period) or voyage charter (per-voyage contract between designated ports) bases. The customer base consists of shippers and traders requiring bulk cargo transportation across global trade routes, with revenue directly indexed to market freight rates such as the Baltic Dry Index, Supramax Index, and Handysize Index.

The company's core product is dry bulk cargo transportation services, with no modular SaaS-style product layers or premium tiers; the offering is a single industrial shipping service. Its only disclosed subsidiary is Precious Shipping (Singapore) Pte Ltd, which holds a joint venture interest in Nusantara Maritime Sdn Bhd — a chemical tanker JV formed in March 2026 with Lianson Fleet Group and Emstraits Navigation, representing the company's first move outside pure dry bulk. The firm employs 501-1000 staff and is governed by a Board of Directors, an Audit and Corporate Governance Committee, a Sustainability and Risk Management Committee, and a Nomination and Remuneration Committee.

Business model is asset-heavy: revenue is generated almost entirely through contracted vessel employment with charterers, with pricing determined by prevailing market freight rates rather than published price lists. Go-to-market is enterprise field sales via direct charter contracts. The firm is publicly listed on SET since 1991, holds a BBB/stable debenture rating from TRIS Rating (October 2024), and is a member of Thailand's Collective Action Coalition Against Corruption. In 2026, the company faced a material operational incident — the attack on MV Mayuree Naree in the Strait of Hormuz — followed by crew labor lawsuits, which together represent significant ongoing legal and reputational risks.

Name

Precious Shipping

Legal name

Precious Shipping Public Company Limited

Website

https://preciousshipping.com

Company type

Public

Founded year

1989

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Precious Shipping is a Thailand-domiciled, publicly listed pure-play dry bulk shipowner operating a small handy-size vessel fleet in the global tramp freight market under time and voyage charter contracts to commodity shippers and traders.

Ownership category

akta.pro rank

Product category

Dry Bulk Shipping Services

NAICS

Deep Sea Freight Transportation (483111), Deep Sea, Coastal, and Great Lakes Water Transportation (48311)

SIC

Deep Sea Foreign Transportation Of Freight (4412), Water Transportation (4400)

akta.pro primary industry

Dry Bulk Ocean Shipping (Capesize/Panamax/Handysize) (TLADAKAA)

akta.pro secondary industries

Bulk Dry Cargo Carriers (Capesize/Panamax/Supramax/Handysize) (TLADABAC), Crude Oil & Petroleum Products Tanker Transport (TLADALAA)

Keywords

• Dry bulk shipping
• Tramp freight services
• Time charter
• Voyage charter
• Bulk cargo transportation

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain

Revenue model

1. Time Charter: Vessels employed on time charter basis where the vessel is hired for a specific period at a fixed daily rate
2. Voyage Charter: Vessels employed on voyage charter basis where the vessel carries cargo for a specific voyage between designated ports

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Precious Shipping operates a fleet of dry bulk cargo vessels providing global transportation services. The company predominantly serves the tramp freight market, employing vessels on both time charter basis (vessel hired for a specific period at a fixed daily rate) and voyage charter basis (vessel carries cargo for a specific voyage between designated ports). The fleet is focused on small handy-size and supramax dry bulk vessels.

Product overview

Precious Shipping Public Company Limited (PSL) is a ship-owner providing global dry-bulk transportation services. The company operates as a single unified shipping service rather than a multi-product platform. Its core offering consists of a fleet of dry bulk cargo vessels that provide international cargo transportation, operating predominantly in the tramp freight market where vessels are employed on time charter and voyage charter basis. The company does not offer modular add-ons, sub-products, or separate service tiers.

Differentiator

Problem solved

Functional benefit

Products and services

• Dry Bulk Cargo Transportation Services

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• LR AdvisoryminorStrategic or Co-development Partner · 26 May 2026LR Advisory conducted an Environmental and Social Due Diligence (ESDD) assessment for Precious Shipping to evaluate alignment with International Finance Corporation (IFC) Performance Standards. The engagement resulted in a prioritized Environmental and Social Action Plan (ESAP) that identified compliance gaps and defined actions needed to meet lender expectations.
• Lianson Fleet Group BhdcoreStrategic or Co-development Partner · 1 March 2026Lianson Fleet Group established a joint venture with Precious Shipping (Singapore) Pte Ltd and Emstraits Navigation Sdn Bhd called Nusantara Maritime Sdn Bhd. The joint venture acquired the medium range chemical tanker MT High Tide for US$28.5 million, marking entry into the chemical tanker business as part of diversification strategy.
• International Finance Corporation (IFC)minorOthersPrecious Shipping aligns its environmental and social practices with IFC Performance Standards as part of sustainable financing requirements

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Eagle Bulk Shipping: US-listed pure-play owner of supramax/handy size dry bulk vessels serving the same minor bulk and regional trade customers as Precious Shipping, with comparable charter mix.
• Diana Shipping: Greek dry bulk shipowner operating capesize, kamsarmax, panamax, and post-panamax vessels on time charter, directly comparable business model to Precious Shipping's time/voyage charter dry bulk operations.
• Genco Shipping & Trading: US-listed dry bulk shipowner with a fleet of capesize, ultramax, and supramax vessels, directly comparable in business model and chartering approach to Precious Shipping.
• Star Bulk Carriers: Global dry bulk shipowner with a diversified fleet of newbuild and scrubber-fitted vessels, competing with Precious Shipping in the same tramp freight market across multiple vessel sizes.
• Pacific Basin Shipping: Hong Kong-listed dry bulk shipowner with a strong focus on small handy size and supramax vessels, the closest direct comparable to Precious Shipping in vessel class mix and customer base across global tramp trades.
• Berge Bulk: Privately held global dry bulk shipowner operating a fleet across vessel sizes, competing with Precious Shipping for tramp freight contracts in minor and major bulks.
• Safe Bulkers: International dry bulk shipping company specializing in panamax, kamsarmax, post-panamax, and capesize vessels, overlapping with Precious Shipping in panamax and smaller dry bulk segments.

Broad incumbents

• MISC Berhad: Malaysian-listed shipping and energy logistics company with LNG, tanker, and dry bulk operations, providing a regional incumbent comparable to Precious Shipping in Southeast Asia.
• Golden Ocean Group: John Fredriksen-controlled dry bulk shipowner with a large capesize and panamax fleet, operating as a broader incumbent in the same dry bulk shipping market.
• Oldendorff Carriers: One of the world's largest dry bulk shipowners with a fleet of over 700 vessels, competing with Precious Shipping across the tramp freight market as a major incumbent.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/pslthailand

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Precious Shipping