Singapore-based Pacific Carriers Ltd (PCL) is celebrating 50 years in business this year, and its most senior executive believes it has a bright future in the MR product tanker sector.

Established in 1973 as the shipping arm of the giant business empire of billionaire Robert Kuok, the company has transformed itself over the decades from an industrial breakbulk carrier into an international shipping company with interests in dry bulk, breakbulk, gas and tankers.