Pilatus Marine trims 2025 growth target to 12%

Thailand's largest liquefied petroleum gas (LPG) transport operator, Pilatus Marine, has lowered its growth target for the year to 12%, down from an earlier projection of 15%, citing weaker service volumes following a long-delayed increase in fees.

- YUTHANA PRAIWAN

Chief executive Varawit Chimtawan said the adjustment reflected a 6% drop in service volume during the third quarter after the company raised fees that had remained unchanged for years.

He said the company, listed on the Market for Alternative Investment, faces mounting challenges both at home and abroad.

Mr Varawit said the domestic LPG transport market will remain under pressure through 2025-26, weighed down by the appreciation of the baht, a slowdown in foreign tourist arrivals and the ripple effects of trade tensions between the US and Asia.