The Federation of Thai Industries (FTI) Shipbuilding Industry Club Chairman Wirat Chanasit recently disclosed that Thailand is planning to invest ฿10.0 billion in purchasing 100 cargo ships.
“In the past, most shipowners opted for 25-30 years old vessels at low prices. However, with the increasing importance of safety and environmental-friendliness requirements, buyers are paying more attention to this respects,” Wirat says. Currently Thai owns 190 tankers nationally, but more than 70% of the vessels are over 25 years old.
Ministry of Treasure has been entrusted with the issue. The Export-Import Bank of Thailand announces to provide ฿300 million financing support in five years. Meanwhile, Japan has promised to supply free ship design for the plan.
At the time being, Thailand gains ฿4.0 billion from shipbuilding and ฿2.0 billion from ship repairing business each year, with an average annual export ship value of ฿ 2.8 billion.
However, Warit says Thai shipbuilding industry will make no progress without this plan. Warit appeals to the government to support shipbuilding industry and encourage shipowners to enter the market.