Prima Marine Public Company Limited, or PRM, expects its third-quarter 2026 results to grow from both the previous quarter and the same period a year earlier. Patchara Rodsomboon, Senior Manager of Finance and Investor Relations, said the company is being supported by its offshore oil storage and blending business, or FSU, where vessel utilisation is running at a full 100% on rising demand for oil reserves amid the prolonged conflict in the Middle East. Meanwhile, its domestic and regional crude oil transport business, covering Malaysia, Singapore, the Philippines and Indonesia, has vessel utilisation of 90%. Its very large crude carriers, or VLCCs, are running at 100% utilisation, mostly under long-term time charter contracts, while its offshore support vessels for petroleum exploration and production, or OSVs, are at about 90%. On fleet expansion, PRM currently operates a total of 71 vessels and will take delivery of two additional domestic oil tankers in the fourth quarter of 2026, bringing the total fleet to 73 vessels by the end of 2026. The two new vessels will replace older ships sold in the second quarter of 2026 and offer better fuel efficiency. On fuel cost management, the company said most of its shipping contracts are on a cost-plus basis, allowing it to adjust service fees in line with changing oil costs. At the same time, PRM is pushing ahead with expanding its chemical transport business to handle chemicals, feedstocks, rubber, biodiesel and sustainable aviation fuel, or SAF, in order to diversify risk and prepare for long-term changes in the energy industry.
Prima Marine Public Company LimitedFSU fleet runs at full 100% utilisation on rising demand for oil reserves amid Middle East conflict, driving expected Q3 2026 profit growth.
