Profit Growth Potential
Major domestic Thai banks including TTB, KBank and SCBX have incorporated the ESG ratings of SET-listed shipping companies as core credit assessment metrics. Low-carbon shipping assets are eligible for preferential policies such as discounted interest rates on green credit loans and extended repayment tenors.
III. Green Infrastructure Support at Laem Chabang Port (EEC) to Back Methanol Shipping Routes for Local Shipowners
Phase III expansion of Laem Chabang Port, the core hub of Thailand’s Eastern Economic Corridor (EEC), was completed in Q1 2026. Dedicated methanol bunkering berths are planned to resolve fuel supply bottlenecks for low-carbon routes operated by Thai listed shipping firms:
- Port Facilities: Reserved methanol storage tanks and bunkering pipelines are in place; tendering for bunkering equipment will commence in 2027. Vessels calling at methanol bunkering berths receive a 20% discount on terminal handling charges.
- Capacity Expansion: Annual container throughput surges by 60% upon completion. Upgraded liquid bulk terminals for hazardous chemicals accommodate regular calls by PSL’s methanol product tankers and RCL’s short-sea methanol-fuelled container ships.
- Cost Offsetting: The Port Authority of Thailand raised container terminal fees moderately by 16%–29%, yet long-term subsidies exclusive to low-carbon powered vessels are rolled out to counteract upward freight cost pressures.
Map Ta Phut Industrial Port has also expanded its liquid chemical transit zone for storage and transshipment of palm oil and industrial methanol. This improves Thailand’s domestic green fuel supply chain and cuts fuel procurement costs for listed shipping enterprises.
IV. Cross-Border Carbon Market Linkage Creates New Profit Drivers
Thailand 
and Singapore officially launched a bilateral carbon credit recognition framework in 2026, unlocking cross-border monetization channels for carbon assets owned by SET-listed shipping groups:
and Singapore officially launched a bilateral carbon credit recognition framework in 2026, unlocking cross-border monetization channels for carbon assets owned by SET-listed shipping groups:- Domestic Trading: T-VER voluntary emission reductions generated by vessel decarbonization can be listed and traded on Thailand’s carbon exchange.
- Cross-Border Circulation: Qualified carbon credits are directly tradable on Singapore’s carbon market, boosting liquidity of carbon assets.
- Compliance Risk Mitigation: Surplus emission reductions from methanol-fuelled vessels can offset EU CBAM carbon tariffs, avoiding heavy carbon penalties on deep-sea trades and forming a core competitive edge unavailable to conventional fuel fleets.
V. Industry Market Outlook
Institutional investors ramped up holdings of low-carbon shipping stocks listed on the SET throughout Q1 2026. Net foreign purchases of RCL and PSL equities jumped 42% quarter-on-quarter. Industry analysts forecast that more medium and small Thai shipping firms will seek SET mainboard listings over the next two to three years, with all fundraising proceeds prioritized for new methanol dual-fuel tonnage.
Backed by four major advantages—SET green finance incentives, low-interest green loans from local Thai banks, methanol bunkering infrastructure at EEC ports, and reciprocal carbon credit arrangements between Thailand and Singapore—Thailand’s listed shipping companies will complete full fleet decarbonization. They will forge deep ties with Singapore’s international green shipping hub, building a two-way development channel linking domestic real shipping operations in Southeast Asia with cross-border capital markets.
Concluding Remarks
SET-listed Thai shipping leaders such as RCL and PSL are spearheading decarbonization through methanol vessel conversion, fully capitalizing on multiple benefits including exchange ESG regulations, sustainable green bonds and regional carbon trading. The completion of green bunkering facilities at Laem Chabang Port fills critical gaps in the industrial chain, enabling domestic Thai shipping companies to align with both IMO global decarbonization targets and EU carbon compliance rules, and supporting sustained upward valuation
