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Byline: Ploy Chitsomboon
Mar. 2--Precious Shipping Plc (PSL), a dry-bulk cargo-ship owner and operator, expects to be debt-free by the second quarter of this year.
However, if the price of vessels in the second-hand market becomes cheap enough, the firm will opt to increase its capacity and remain in debt, said PSL managing director Khalid Hashim.
PSL plans to use operating cash flow and cash in hand, which now stands at US$18 million, to clear its outstanding $80 million debt with Krung Thai Bank.
"Debt payments will continue to be made quite rapidly, using the cash flow surplus generated from our expanded fleet. However, this will ...