Shares of Precious Shipping Public Company Limited (SET: PSL) dropped sharply by 8.6% to THB 6.85 per share during afternoon trade on March 11, 2026, after reports surfaced that one of its ships was struck in the Strait of Hormuz. The sudden decline highlighted investor concerns regarding operational disruptions and potential risks to the company’s fleet.
Maritime security company Vanguard Tech identified the ship involved as the Mayruree Naree, a bulk carrier flying the Thai flag and operated by Bangkok-based Precious Shipping. Following the strike, a fire broke out on board the vessel. Reports indicated that 20 crew members evacuated the ship while three crew remained as rescue teams responded at the scene.
Precious Shipping, a prominent player in Thailand’s shipping sector, came under immediate market pressure as traders assessed the potential fallout from the incident. The Strait of Hormuz is a critical chokepoint for global shipping, and security events in the region can quickly impact logistics operations and share performance for maritime companies.
