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Thai Cabinet Hears Proposal on National Shipping Fleet.

Bangkok Post (Bangkok, Thailand)

| June 02, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Jun. 2--The Transport Ministry will forward a proposal to establish a national shipping fleet, debated for two decades, to the cabinet this month. It calls for the fleet to begin operations by acquiring two ships within two years, with the private sector having a majority stake.

Deputy Minister Pichet Sathirachawal said last week that the fleet would be formed through the privatisation of Thai Maritime Navigation Co (TMN), which now owns no ships.

The Finance Ministry will hold a 39 percent stake in the new venture and the Port Authority of Thailand 10 percent, with the remaining shareholding going to the private ...

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Source: HighBeam Research, Thai Cabinet Hears Proposal on National Shipping Fleet.

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