Precious Shipping Public Company Limited (PSL) has informed the Stock Exchange of Thailand about the acquisition of one secondhand medium range (MR) tanker, viz. High Tide by Nusantara Maritime SDN. BHD., an associate company incorporated in Malaysia in which the company holds a 45% stake through its wholly owned Singapore subsidiary.

The purchase price of the vessel is $28.45m or about THB920.16m, which is a market price.

The vessel, Liberian-flagged (to be changed to Singapore flag), is a medium range tanker with deadweight tonnes of 49,999. It was built in 2012 in South Korea.

Nusantara Maritime has completed on May 14 the signing of a memorandum of agreement for the vessel with PSL.

The vessel’s delivery date is scheduled for August 24 – November 10, 2026.

PSL said the acquisition forms part of the company’s strategy to diversify and stabilize its revenue streams through investments beyond the dry bulk sector.

According to PSL, this investment supports its long-term business resilience by expanding into a complementary shipping segment with different demand drivers and chartering dynamics.