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Trends and opportunities Download PDF
The market
Thailand has a reasonably-sized marine industry, but it is mainly in the building of small vessels. High percentages of marine products are imported to Thailand. Demand for marine products continues to increase as a result of the government’s policy on zero boat tax, which started in February 2004. In particular, marine products and services from Australia are competitive compared to the USA and Europe. This is due to the depreciation of Thai and Australian currencies against the US dollar.
Good prospects for passenger vessel services, charter boats, pleasure crafts and marina facilities exist in the major tourist areas along seaside and island resort areas, particularly in the south of Thailand. Some of the more important areas are the west coast of the peninsular including Phuket, Phang-Gna and Krabi. Also, the east coast including Samuii, Pha-ngan, Ang-thong, Pattaya, Koh Chang and several nearby offshore islands.
The travel and transport services to the major tourist destinations on both sides of the southern peninsular are lacking in reasonable comfort and safety. The current operators are reluctant to upgrade to more luxurious, faster, safer vessels due to the following reasons:
- Considerable competition, which keeps fare structures low.
- Minimum requirement for speeds in excess of 20 knots.
- Return on investment in a vessel is usually required within two to five years.
- Despite their shortcomings, the current vessels carry numerous passengers reasonably efficiently, cheaply and, to date, without too many major accidents.
Opportunities
Opportunity areas in Thailand’s marine industry include:
- Fast ferries
- Pleasure crafts
- Patrol boats
- Fire-fighting and rescue boats
- Cargo vessels
- Fishing vessels
- Off-shore oil and gas service vessels
- Marine infrastructure
- Marina facilities
- Education and training
Australian marine design features are regarded as equal or superior to other imported products in Thailand. Australian ferry builders should explore the demand for both basic and sophisticated vessels.
In the short-term, there are opportunities for leisure crafts as a result of boat tax abolishment, and marina equipment with new marina projects developing in Phuket and Samui.
In the longer term, there is a growing demand from some government agencies for specialised vessel applications such as hydrographical vessels, fire-fighting and rescue vessels and off-shore oil and gas service vessels.
Business opportunities for the Australian marine industry in Thailand are closely related to the tourism industry. The number of incoming high purchasing power tourists from Europe, Japan, Australia and USA influence the types of vessels available in Thailand.
Further information
For more detailed market information on Thailand register your details here or for further information and to discuss your specific export needs to this market contact our Thailand marine specialists within our Austrade Asia-Pacific Marine Team
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