Thailand's Precious Shipping Public Company Limited has acquired a second-hand medium range (MR) tanker through its Singapore subsidiary Precious Horizon, reports Denmark's Shipping Telegraph.

The company said the memorandum of agreement was signed on 11 February for the 47,999-dwt Florence, built in Japan in 2006. The purchase price was US$11.10 million in line with market value.

Delivery is scheduled between 20 February and 15 March 2026. Precious Shipping said the move is part of its strategy to diversify into the tanker segment to broaden revenue streams beyond dry bulk.

The company added that the investment supports long-term resilience by expanding into a complementary sector with different demand drivers and chartering dynamics.

Precious Shipping has been renewing its fleet by selling older non-eco ships and acquiring younger, larger and more efficient vessels. It sold four ships in 2024 and another four in 2025, while taking delivery of five second-hand eco ships in 2024.

The company also ordered four ultramax newbuilds from Taizhou Sanfu in China for delivery between 2026 and January 2027. In 2025, it received three modern ultramax ships and in January 2026 took delivery of two resale 66,000-dwt ultras built in China.