Ama Marine Public Company Limited

Ama Marine Public Company Limited, or AMA, disclosed that its land transport business has increased its share of revenue to approximately 56% of the total revenue structure, while the sea transport business accounts for about 44%. Mr. Pisan Ratchakitprakarn, Managing Director, stated that the sea transport business this year faces challenges from high oil prices, and freight rates in the Asian region have risen in a manner inconsistent with oil costs. Meanwhile, the number of vessels in the Asian market has increased as some ships were unable to operate in the Middle East, creating an oversupply of ships relative to cargo and turning it into a shipper's market. For the land transport business, the company holds 100% ownership, and there is also a transport company in Rayong Province in which it holds 76%, with a freight pricing model that immediately reflects diesel prices at service stations. As for plastic pellet and container transport, there are contractual price adjustment conditions within approximately 15 to 30 days. The company views that if the sea transport situation remains prolonged, it will rely on the land transport business as the main driver to reduce the impact of volatility.