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Chanet Phenjati, president of the marine transport company, said yesterday that its operating costs have jumped by 15 per cent.

But its costs are still lower than other liners, since it manages only one vessel and has leased the other five in its cargo fleet to customers, which have to be responsible for the oil costs themselves, he said.

The company has extended its leases to an average of two years, so that it can save on the expense of sending staff to provide maintenance to the leased liners, which are all overseas.

The liner business has still performed well, as demand outstrips the number of the vessels available. The company expects revenue to grow strongly next year.

Average daily revenue in its liner lease service in the first quarter was US$7,305 (Bt243,300) per day, up 15 per cent from $6,336 over the same quarter last year. Daily revenue from vessels under its own operation was $14,479, up from $9,620.

The company's net profit of Bt49.65 million in the first quarter fell well short of Bt97.25 million last year, when it sold some of its ships.

Operating profit was down only slightly to Bt31.50 million from Bt35.73 million last year.