Precious Shipping is continuing to expand its presence in the tanker segment through its Malaysian joint venture, marking another step in its broader strategy to diversify beyond dry bulk shipping.
The Bangkok-listed company confirmed that its associate Nusantara Maritime — in which Precious Shipping holds a 45% stake via a Singapore subsidiary — has agreed to acquire the 2012-built MR tanker High Tide for $28.45m.
Market sources identify the seller as d’Amico International Shipping, which has been actively renewing its fleet in recent years. Earlier this year, the company also disclosed the sale of another 2012-built MR tanker, High Seas, for $27.6m. That vessel, built at HD Hyundai Mipo, was the oldest unit in d’Amico’s fleet at the time of sale.
For Precious Shipping, the transaction represents a continuation of its gradual move into product tankers, alongside its traditional dry bulk operations.
The company, led by Khalid Hashim, operates a fleet of around 40 bulk carriers and has increasingly looked to adjacent segments as a way to reduce exposure to dry bulk market cycles.
In a stock exchange filing, Precious Shipping said the acquisition forms part of its long-term strategy to diversify revenue streams through investments outside the dry bulk sector.
It added that expanding into product tankers supports greater business stability by providing exposure to “a complementary shipping segment with different demand drivers and chartering dynamics”.
The latest deal follows the group’s first tanker acquisition earlier this year, signalling a more structured entry into the sector rather than a one-off investment.
Back in March 2025, Precious Shipping formally announced its partnership in Nusantara Maritime, outlining plans to build a controlled exposure to the tanker market while maintaining its core focus on dry bulk shipping.
On the seller side, d’Amico continues to push ahead with its fleet renewal programme. The Milan-listed owner has been systematically selling older MR vessels in recent years as it shifts toward a younger, more fuel-efficient eco fleet, strengthening its position in the product tanker segment.
