Transporting Commodities With A Fleet Of 36 Precious Ships

Transporting Commodities With A Fleet Of 36 Precious Ships


Precious Shipping Public Company Limited is a dry bulk ship-owner. PSL operates since 1989 and is also involved in complementary activities to ship owning and chartering. These include port development and ship management.

Get The Timeless Reading eBook in PDF

Get the entire 10-part series on Timeless Reading in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

See 2017 Hedge Fund Letters.

Blue Mountain Credit Fund still in the red YTD; here are their biggest holdings

Blue MountainBlue Mountain Credit Alternatives Fund was up 0.36% for November, although the fund remains well into the red for the year. For the first 11 months, the fund was down 24.85% gross. Q3 2020 hedge fund letters, conferences and more Blue Mountain's fundamental credit strategy was up 0.63% for November, including a 1.09% gain for Read More

PSL’s fleet consists of 36 ships with a total capacity of 1.6m deadweight tonnes, mainly transporting commodities.

Business Description

The main service provided by PSL is ship chartering for commodity freights. The company’s fleet size stands at 36 ships with a total capacity of 1,585,805 Dead Weight Tonnes (DWT). The average age of ships is 6 years old.

The company owns four types of vessels: 15 Handysize (5,000 to 35,000 DWT), 9 Supramax (50,000 to 60,000 DWT), 8 Ultramax (above 60,000 DWT), and 4 Cement carriers (around 20,000 DWT).

The Handysize and Supramax vessels usually transport iron ore, coal, phosphate, finished steel products, wooden logs, fertilizers and grains. Cement vessels carry construction materials and the Ultramax ships are used for larger operations.

Transporting Commodities

Most of the company’s operations take place in Asia, with a few leases in other areas. PSL is also lightly involved in complementary activities to ship owning and chartering, such as port development and ship management.

The Baltic Dry Index (BDI) bottomed out in February 2016 and has since been on an upward trend. This should further be supported by China’s shutdown of coal mines and import of iron ore.


Thira Wipuchanin has served as the independent chairman of PSL since the year 2000. He is also the Chairman of United Palm Oil Industry Public Company Limited (UPOIC TB) and an independent director of Siam Makro Public Company Limited (MAKRO TB). He received his B.Sc. in Economics and Business Administration from University of Wisconsin, US. In addition to his education and experiences, he has also received training and certification from the Thai Institute of Directors.

Transporting Commodities

Khalid M. Hashim has worked for PSL since 1991 and was appointed as the Managing Director in 1994.  He also holds directorship in 60 subsidiaries of PSL and owned 8.43% of the company’s shares as of December 2017.  He completed his Master’s Degree in Management Studies at the University of Bombay, India.

World Class Benchmarking

Since 2013, Profitable Growth has been among the worst relative to 1,390 medium-sized Industrials companies worldwide.

Profitability exhibit the same trend as Profitable Growth while Growth has improved to a great ranking in the past 12 months.

Transporting Commodities

Both Asset utilization and Profit margin have consistently ranked at #10 since 2014.

Sales growth and Margin change have seen a downward trend in 2015 and 2016 but have recovered to be among the best in the past 12 months with Margin change showing more extreme changes in comparison to Sales growth.

Article by Become A Better Investor

Previous article Chart Of The Week: US Crude Oil Flows
Next article Klarman 2017 Letter: Softbank And Sequoia As Symptoms Of The Bubble
Dr. Andrew Stotz, CFA is the CEO of A. Stotz Investment Research, a company providing institutional investors with ready-to- invest portfolios in Asia that aim to beat the benchmark through superior stock selection. The company also provides buy- and sell-side clients with financial models to value any company in the world and World Class Benchmarking to determine what companies are financially world class. Previously, as Head of Research at CLSA, Andrew was voted No. 1 Analyst in Thailand in the Asiamoney Brokers Polls for 2008 and 2009. He was also voted No. 1 Analyst in Thailand in the 2009 Institutional Investor magazine All-Asia Research Team Report. Andrew earned his PhD in finance at the University of Science and Technology of China in Anhui province, with a focus on answering questions raised by fund managers and analysts during his career about picking stocks and managing portfolios. In addition, Andrew has been a lecturer in finance for 22 years at various universities in Thailand. Since 2013, he has been the president of the CFA Society of Thailand. He is also the author of How to Start Building Your Wealth Investing in the Stock Market.

No posts to display