30 November 2023 16:36
5.10 THB
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Volume (Shares)
Value ('000 Baht)
Unit:Million baht
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Annual Registration Statement / Annual Report for the Year (Form 56-1 One Report) Year 2022
Annual Report Year 2020
Financial Statement Quarter 3/2023

Sustainable Development

The Company is aware of the significance of business operation with sustainable growth while managing corporate social responsibilities, with emphasis on business operation with care to all stakeholders, economic, social and environmental impacts, with integrity, ethics and code of conduct.

Sustainable Development Policy
Green Procurement Policy

The Company Group realizes on the significance of the sustainable growing business operation under the corporate social responsibility by focusing on the business operation with care on stakeholders, economy, society, and environment under morality and ethics. Sustainability is a key driving of business. Therefore, the Company Group gives precedence to the awareness on both direct and indirect public impact, and incubation of knowledge and understanding, and building of the operating culture under the good governance in all processes to reinforce the public benefit and sustainable growth of the Company, as well as creation of new innovation to satisfy the requirements of all stakeholders based on the intention of being “the Leader of Thai Energy Transportation toward Sustainable Success”.

The Company has concerned all major factors for the operation according to the Good Governance and The Company’s sustainable development. The Company has developed each group of stakeholders’ management plan to assess the importance and relationships in the business value chain and analyze the risks to take into account the impact on stakeholders in all aspects and develop the relationship with stakeholders according to the Corporate Governance; as well as create awareness among employees at all levels for real practice.

Analysis on the Stakeholders in Business Value Chain

Group of Stakeholders Stakeholder Expectation Engagement Channels Response Guideline of the
Stakeholder Expectation
Shareholders/ Investors
  • Holding Annual Shareholder’s meeting
  • Opportunity Day
  • Site Visit
  • Online Media/Email
  • Whistle Blowing
  • Equitable, transparent, and fair shareholder treatment
  • The management of the Company according to laws, objectives, Articles of Association, and resolution of the Shareholders’ Meeting, as well as Good Corporate Governance
  • Generation of good return
  • No creation of damage or conflict of interests to the Company
  • Adequate, equal, correct, and timely acquisition of the key information about the Company
  • Respect to the right of shareholders
  • The equitable, transparent, and fair shareholder treatment.
  • Performing its duties with honesty, transparency, and fairness, and managing the Company according to laws, objectives, Articles of Association, resolution of the Shareholders’ Meeting, and Corporate Governance Code.
  • Performing its duties to the best of its knowledge and competency with responsibility, and non-wrongful exploitation of their own or other person’s benefits.
  • The disclosure of the key information of the Company to the shareholders for acknowledgement adequately, equally, accurately, and timely.
  • Human Resources and Employees Communication
  • Town Hall Meeting
  • Online Media, Intranet, and Email
  • Whistle Blowing
  • Operating Line and Safety Training
  • Good, appropriate, and fair return, welfare, and privilege
  • Good and safe working atmosphere
  • Fair appointment, removal, reward, and punishment
  • Continuous development of the knowledge, competency, and internal potential of the employees based on the operating line
  • Hearing the problems, understanding the circumstances occurred and full support and assistance.
  • Career security and progress
  • Perception of news, information, or movement of the Company
  • Provide the appropriate and fair welfare and return.
  • Maintain the working environment for safety of the employee’s life and properties.
  • Determine the performance Indicator for the transparent assessment
  • Schedule the appropriate yearly training plan for the employees in each department, covering the basic skills, managerial skills, and specific professional knowledge.
  • Provide the opinion hearing channel or the whistleblowing channel for the breach of rules or legal offence.
  • Avoid any acts which are unfair and may affect the career security and neither threaten nor depress the employee’s condition of the mind.
  • Inform the useful news and information to the employees via the Company’s e-mail.
  • Analysts Meeting
  • Meeting with creditors
  • Site visit
  • Online Media/Email


  • Fair, transparent, and accountable treatment process
  • Strict compliance with the agreed terms and/or conditions
  • Provision of the correct, complete, and factual information
  • Not demand, accept, or agree to accept and not give or agree to give any benefits that are dishonest or not trade tradition to the creditors.
  • The trade negotiations with the creditors must not take advantage, be transparent and fair.
  • Pay capital, interest, or guarantee management according to the agreement condition.
  • Strictly comply with the agreed terms and conditions. In case of trouble until failure to comply with, the Company must notify the creditors, and seek for the shared solutions so that the creditors will receive the same or similar results as usual as most as possible.
  • Provide the creditors the accurate and factual information about the Company.
Business Partner
  • Supplier Day Meeting
  • Online Media/Email
  • Whistle Blowing
  • Fair, transparent and accountable treatment process without taking advantage
  • Strict compliance with the agreed terms and/or conditions
  • Support and promote partners’ operation for the most potential cooperation.
  • Provision of the correct, complete and factual information
  • Share knowledge and mutual creation of new innovations for benefits of all parties
  • Prepare the systematic work procedure and review at least once a year.
  • Equal proposal of the partner under the Company’s price comparison measures
  • Keep and protect the information between the Company and its partner.
  • Prepare Tanker Management and Self-Assessment (TMSA) once a year
  • Not demand, accept or agree to accept and not give or agree to give any benefits that are dishonest or not trade tradition to the business partners.
  • The trade negotiations with the business partners must not take advantage, be transparent and fair.
  • Strictly comply with the agreed terms and conditions. Determine clear scope of work and provide services and make payment on time.
  • Direct Meeting with customers
  • Customer service email via
  • Customer Satisfaction Survey
  • Online Media/Email


  • Quality and standard services and customer requirement satisfaction
  • Provision of the correct, complete, and factual data
  • Hearing and solving of the problems from use of services
  • Non-disclosure of the customer information or confidentiality
  • Creation of new innovations for the customer requirement satisfaction.
  • Good relationship and equitable treatment
  • Provide quality services by setting the levels and standards of service quality, and strictly comply with the conditions, promises, or suggestions given to the customers, as well as maintain the service quality standards according to the international standard.
  • Completely and factually disclose news and information of the Company Group’s projects and services, whereas the advertisement and publication of the Company’s projects must not mislead the customers.
  • Establish the complaint system for hearing the customer opinions and suggestions about the Company Group’s services and make corrections or clarify the outcomes of complaint process to the customers
  • Prepare a customer satisfaction assessment form once a year.
  • Establish a non-disclosure measure for the customer information and confidentiality.
  • Promote and provide the creation of new service innovations to ensure more customer benefits and satisfactions.
Business Competitors
  • Meetings of various industry-related groups
  • Network cooperate in accordance with government policies
  • Business operation under the framework of law and fair competition
  • Honest business operation
  • No damage of the business competitors’ reputation
  • Operate and compete in business operation under the framework of fair competition laws and rules.
  • Not seek for business competitors’ confidential information by dishonest or inappropriate methods.
  • Not try to damage business competitors’ reputation by malicious or false accusations.
Government Agencies
  • Supporting the projects that benefit the public
  • Disclosure or cooperation
  • Online Media/Email
  • Compliance with the related laws, regulations of the government agencies
  • Collaboration with the government agencies
  • Hear the opinions and suggestions from the government sector.
  • Share the opinions from private sector to public sector for creating the better understanding in business sector.
  • Collaborate with the government agencies that have duties to govern the business operations of the Company.
  • Strictly comply with laws, rules, and practical guidelines from the government sector.
Community, Society, and Environment
  • Organizing activities with the community
  • Online Media/Email
  • Whistle Blowing
  • Disclosing or report
  • Operate business under the social responsibility without cause of the community, society, and environment damage on the whole
  • Operate under moral principal and ethic of the society.
  • Understanding on the way of community living. Participation in the community development to upgrade the living of people in society.
  • Communicate and build an understanding on the Company’s Operation
  • Perform field trip to visit the community on the appropriate occasion basis. Hear the opinions, requirements, and suggestions of the community and society.
  • Mutually solve problems and support the projects which are useful for the community, society and environment.
  • Not perform any acts which may cause damage to the community and society. Strictly comply with laws and regulations related to the operation.
  • Constantly communicate the Company’s operation

The operations of the maritime oil trading business may cause marine environmental pollutions from several ways whether being oil pollution, pollution from toxic liquid in the holds, pollution from marine transportation of dangerous substances, sewage pollution, waste pollution, and air pollution from the vessels, or accident occurrence during transport, resulting in the oil spill to the sea. In spite of the few incidents, but the damage is widely caused, particularly in the marine ecosystem, that will affect human either directly or indirectly. That is why the countries have been aware of the significance on managing the environmental pollution problems from marine oil transport, enacting the laws for the navigation standard and safety control, and pollution control, and internationally cooperating to determine the navigation standards.

The International Maritime Organization (IMO) has played the key roles in determining and carrying forward to have the international laws for navigational pollution prevention. For instance, the International Convention for Prevention of Pollution from Ships A.D. 1973 which has been amended by Protocol A.D. 1978 later, and well known in the name of MARPOL 73/78 Convention, has the objective to prevent and reduce the pollutions caused by vessels no matter either being the pollutions caused by routine operations or caused by accident.

In the Company’s capacity of the business operations under such supervision of the International Maritime Organization (IMO) through the flag state, the Company Group gives precedence and strictly complies with the requirements and laws of both domestic and foreign supervisory agencies all the time for good and sustainable corporate governance of the Company and the Group.

  1. Management of the Ships’ Ballast Water

    In freight shipment by ocean liners, the ships’ ballast water is used to adjust the center of gravity to make well balance of the ships. However, pumping and transfer of the ships’ ballast water is a cause of problem of the movement of the nonlocal plant and animal varieties to the new environment. Some varieties can rapidly grow and breed, affecting the balance of ecosystem and economy, and possibly the pathogenesis for humans. Therefore, the International Maritime Organization (IMO) has developed the International Convention on the Control and Management of Ship’s Ballast Water and Sediment, which was announced on 8 September 2004 and promulgated to be effective on 8 September 2017, to prescribe that all ships transporting in the international territorial waters shall install Ballast Water Management System (BWMS). The ballast water must be treated according to the standards particularly before draining seaward. However, subject to the said International Convention, it prescribes that the fleet of new ships shall be built. BWMS shall be installed in the ships which are built after 8 September 2017 from the ship building dock in the beginning. In the fleet of existing ships which are built before 8 September 2017, this International Convention which is effective from 8 September 2024 shall be executed. This has resulted in the requirement of all ships with international traffics to install BWMS and to execute according to the Ballast Water Management Plan particularly of each ship, and covered the requirement of all ships to have Ballast Water Notebook and to be certified for the ballast water management according to the international standards.

    Management Approach  
    In this regard, the Company Group has mutually, continuously, and properly planned to work according to the said International Convention and has been able to install the ballast water treatment system according to IMO Standards for the ships transporting in the international territorial waters. The Company Group has mutually and comprehensively considered on the installation of BWMS of each ship, for instance, Ship Renewal Survey Period, according to the International Oil Pollution Prevention Certificate (IOPP) and in the period of maintenance and ship docking of the Company Group to avoid the operating impact.
    Operating Result
    At present, Ballast Water Management System (BWMS) has been installed with three ships in the Company Group’s fleet. In installation of such system, the Company Group has firstly considered installing on the ships transporting in the international territorial waters according to the period of maintenance and ship docking.

  2. Prevention of Air Pollution from Navigation

    The international trading vessels and freighters have currently been the large origin of Sulphur dioxide (SO2) due to the consumption of the sulfur containing fuel. This gas is harmful both to the creatures and ecosystem, and also causes the acid rain and respiratory disease. Therefore, to mitigate the maritime pollution and air pollution, and reduce the emission rate of Green House Gas (GHG) causing global warming, the International Maritime Organization (IMO) has established the requirement for consumption of the low sulfur fuel oil promulgated on 1 January 2020 (“IMO2020”), whereas the carrier shall consume the fuel oil containing low sulfur not higher than 0.5% by weight formerly from 3.5% by weight in the ship fuel, or install Exhaust Gas Cleaning Scrubber to reduce the emission of SO2 in the air, as the control of Ozone-Depleting Substances, NOx, SO, and particulate matter.

    Management Approach
    In this regard, the Company Group has executed to support the situations according to the IMO2020 measure by establishing a policy for changing to consume Low Sulphur Fuel Oil (LSFO) not exceeding 0.5% by weight of sulfur in the ship fuel for the fleets which provide services or need to transport in the routes outside Thai Sea Boundary according to the International Maritime Organization (IMO) in all respects; controlling and monitoring the efficiency of the engine which is adjusted to consume the said LSFO.
    Operating Result
    The Company Group has announced to consume LSFO not exceeding 0.5% by weight as fuel in all ships from 25 December 2019 onwards to declare its intention of the cooperation and creation of international level standards. All international tankers of the Company Group have been completely passed for inspection and granted for the international certificate of air pollution prevention.

  3. Aboard Waste Management
    The departure of one ship from one point to another point makes the ship sailing in the sea for a certain period. In addition, the activities under the shipment mission, the crew activities whether being the living activities, such as cooking or recreational activities, must be performed aboard. For all activities of aboard crews, foodstuffs, facilities, and public utilities are necessary for carrying in one ship to be adequate for each navigation. These things are the origin of aboard wastes which are needed to be properly managed to prevent not to affect the marine environment and ecosystem.

    Management Approach
    According to the aboard waste management of the Company Group, the aboard incinerator installation policy has been established according to the conditions prescribed by International Maritime Organization (IMO) that an incinerator installed on the ship built from 1 January 2000 or an incinerator installed on the ship from 1 January 2000 must conform to the standards determined by the IMO and granted for the certificate called the IMO Type Approval Certificate. The waste incineration shall be performed in the incinerator only, and some wastes, for instance, exhaust gas cleaning system residues, and polychlorinated biphenyls (PCBs), etc. are prohibited for incineration.
    Operating Result
    The Company Group has installed the incinerator according to the standards prescribed by the IMO, and has been granted for the IMO Type Approval Certificate for all ships in the fleet.

  4. Green House Gas Emission Management
    Low Sulphur Energy Usage
    To reduce the greenhouse gas emission and dust from the sailing, the Company announced the usage of the oil with sulphur not more than 0.5% of the vessel weight for the sailing since December 25, 2019. Every Company’s international trading vessels were inspected and received international certificate of the prevention of air pollution. In 2022, the Company is strictly complied with the policy and no action against environment law.
    CO2 Emission
    International Maritime Organization (IMO) has goals to reduce the environment effect by the IMO plan setting the tools for the efficiency of the trading vessel energy usage indicator mechanism consists of Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII). In 2023, such tools indicated efficient standard of each vessel energy management. To operate according to IMO plan, in 2022, the Company has prepared the vessel by qualification assessment and vessel type to be qualified by Class and energy usage storage preparedness of each vessel for IMO Carbon Intensity Indicator (CII) in the late 2023.
    In 2022, the Company has goal and long-term operation plan in greenhouse gas emission reduction from the marine transportation according to IMO criteria and concept of Thailand compliance organization. The Company has appointed the technical working team supporting the Company Group’s greenhouse gas emission reduction in order to study and prepare guideline or procedure for the reduction goals.
  5. Green Procurement
    The Company has an operation guideline leading the organization to operate and support the eco-friendly procurement. In 2022, the Company has set the guideline for the procurement of the eco-friendly business partner or products in line with the sustainablility development policy. The survey of the product procured for the office equipment or tools for acknowledging the type and quantity needed by the Company and consider the mass orders starting from the procurement of the eco-friendly products.
  1. Fair Business Operation
    The Company aims at the honest, fair, and ethical business operation under code of conduct and upholding the business competition according to the principle of ethics in business operation, laws, and the principle of equitable business competition, and denies any behaviors that obstruct the fair competition, for instance, acquisition of the business competitors’ confidential information, demand, accept, and do not give any benefits which are dishonest in the business for purchasing assets, etc.
    Moreover, the Company respects to other person’s right of intellectual property by establishing a policy for the personnel’s observance with laws or requirements relating to the right of intellectual property, such as the use of lawful copyrighted computer program, etc. In addition, the Company initiates the Subconsciousness Encouraging and Creating Campaign Project for its personnel at all levels to have social responsibility.
    Good Corporate Governance
    The Board of Directors has prepared the better corporate governance policy in writing from 28 April 2016 according to a guideline prescribed by the Office of the Securities and Exchange Commission, and the Stock Exchange of Thailand, as the guideline for operating the Company and its subsidiaries and creating the efficiency and transparency that causes the third party’s confidence in the Company’s business operations.
    Code of Conduct
    The Company realizes on the significance of ethics and code of conduct which should be adhered by the Board of Directors, all executives and employees as a guideline of duty performance and treatment to the related parties. Therefore, the Company’s business code of conduct is established in writing to be used as the working standard of the Company.
    Operating Result
    From the devotion of the fair and good governance business operation, resulting the Company received good corporate governance with the “Excellent” or “5 Stars” level from Corporate Governance Report Of Thai Listed Companies Project 2022 (CGR 2022), 4th consecutive year, presenting the devotion to develop the standard and operate fairly and ethically.
  2. Anti-Corruption
    The Company manages its business based on the transparency, ethics, adherence to the Corporate Governance Code, and compliance with the laws relating to the prevention of corruption and anti-corruption, giving bribe to or accepting bribe from the government or private officers. The Company has clearly structured its organization to allocate duties and responsibilities, work process, and chain of command in each work units to ensure the appropriate balance of power and conciseness in cross checks.
    Operating Result
    The Company has been certified to be the member of the CAC Project from the CAC Committee since 2019 and has been certified to extend the membership from CAC Committee No.1 on December 30, 2022. Moreover, in 2022, the Company has not received any complaints or whistleblowing of any misconduct or corruption.
  3. Respect on Human Rights
    The Company has continuously operated under the Good Corporate Governance Policy, human rights respect, and fair and equal treatment. All level employees shall perform according to labour law and human rights, which includes human rights respect, and fair and equal treatment for female labor, child labor, treatment toward partners or stakeholders under Thai and international law. We also monitor our business to prevent it from getting involved in human rights violations between the Company and the employee, community, society, partner, or stakeholder. Human Rights Guidelines in the business operation shall cover labour law performance, no child labor, no bias on the female, fair remuneration, safety and hygiene.
  4. Fair Treatment of Labor
    Human resources development and fair treatment of labor are factors that increase the values of business and enhance the competitiveness and sustainable growth. For this reason, the Company Group has, therefore, established following policies and guidelines:
    (1) Respecting the rights of employees based on human rights principles and complying with labor laws.
    (2) Providing fair employement process and conditions including compensation and consideration of performance and merits under a fair performance evaluation process.
    (3) Promoting human resources development with training, seminars, and sending personnel to attend seminars and training in various fields related to the development of knowledge, competency, and potential of personnel, and also cultivating good attitude, morality, ethics, and teamwork among personnel.
    (4) Providing employees with benefits as required by laws such as social security, and benefits other than those required by laws including health insurance and accident insurance, provident fund and subsidies to employers, i.e. scholarships for employees’ children, and funeral aid, etc.
    (5) Providing personnel at all levels with annual health check-up, taking into account risk factors based on individual level, age, gender and working environment.
    (6) Enabling employees to safely work under good and hygienic workplace by providing measures to prevent accidents, and encouraging employees to have safety consciousness, as well as organizing training and encouraging employees to have good hygiene and taking care of the workplace to be hygienic with safety all the time.
    (7) Providing employees with opportunities to express their opinions or complaints about unfair treatment or improper acts in the Company and protecting employees who report complaints.
    Personnel Management and Development Policy
    The Company establishes the personnel management and development policy to declare its persistent intention in well recruitment, supervision, and retention of the Company’s personnel to be consistent with the Company’s business operation strategies and goals both in short-term and long-term. Moreover, the anti-corruption measure is applied as part of personnel management and development processes.
    Occupational Safety, Health, and Environment
    The Company establishes the occupational safety, health, and environment and promulgates for the companywide enforcement.
  5. Responsibility toward the Customer
    The Company is committed to develop the services of the Company and its subsidiaries for the highest satisfaction and benefit of customers and to adhere to treat customers with responsibility, honesty and take care of customers as if they are family members of the Company as follows:
    (1) The Company focuses on providing quality and standard services, so that the customers can use services with quality, hygiene, and the highest satisfaction. In addition, the Company recognizes the importance of providing knowledge and understanding about the services, employees are responsible in providing accurate and complete information about the services.
    (2) The Company ensure that customers is provided of information about the Company’s services with correctness, not distorted, ambiguous, or the exaggerating advertisements, so that the customers obtain accurate and sufficient information for decision making.
    (3) The Company considers the safety of customers and is committed to providing customers with quality and safe services in accordance with international safety standards and regulations, and as required by law. We have always designed, created, and developed services to make our customers to be confident in the quality, standards and safety of our services.
    (4) The Company establishes the customer relationship system to be used for communication with customers and effectively receiving complaints about the quality of services through the Company’s website, so that the needs of customers will be quickly responded and holds activities to build the sustainable relation between customers and between the Company and the customers.
    (5) The Company will keep the customer’s information confidential and will not misuse such information.
    Certification of Service Standards
    The Company has been granted for the Quality Management System Standards ISO 9001:2015 according to the international standards from Bureau Veritas Certification (Thailand) Company Limited.
    Customer Relations
    The Company manages the customer relations system to accept criticisms in services and accept the notification of complaints on the service quality to rapidly fulfill the customer requirements. The customers can send the issues to the Company at Marketing Department, or at e-mail:
    Operating Result
    The Company has delivered the service-related customer satisfaction questionnaire to yearly assess the operations which are useful for developing and upgrading the operating standards and quality once a year. The results of customer satisfaction survey are as follows:

  6. Contributions to community or social development
    The Company is aware of its responsibility to the community and society to strengthen the community and and truly return to the society, with the objective to create knowledge, works, amd people; therefore, the Company has a policy to help and develop society by focusing on donations and education support, to cooperate in many activities with surrounding communities in the areas where the Company operates its business, as appropriate, and to respond to iincidents affecting the communiteis, society and environment due to the Company’s operations with speed and efficiency. In addition, the Company has also encouraged its employees to have awareness and responsibility to the environment and society.
  7. Innovation and dissemination of innovations derived from operation, with responsibility on society, environment, and stakeholders
    The Company emphasizes creative activities and services that are motivated by responsibility to society, environment, and stakeholders, as appropriate, with the first aim oncreating innovations in the Company’s operations. The innovation on the process and social services is based on “new concept “to respond to the needs of society in various aspects. In 2022, the Company has determined the strategy and the operation guidline with the technology involved, including management plan for inventing the innovation for the trading services and developing ecosystem along with the goal of sustainable business operation. The Company has the policy promoting and supporting employees to engage and propose comment on the development of creative work processes to reduce the service cost or energy usage and develop working process for more potential.