Thoresen Thai Adds Second-Hand Bulker
- Business & Finance
Thailand’s Thoresen Thai Agencies (TTA) has expanded its fleet by adding a second-hand dry bulk vessel, the 58,700 dwt MV Thor Caliber.
The Supramax vessel, which was formerly named MV Albion, was purchased for a price of USD 14 million.
TTA informed that the 2008-units was bought from a company which is not connected to Thoresen Shipping Singapore (TSS), a wholly owned subsidiary of TTA.
With this additional vessel, the Thoresen-owned fleet comprises a total of 21 vessels with an average size of 54,512 dwt and an average age of 11.57 years.
The transaction comes on the back of the company’s sale of two older ships over the previous six months.
In February 2018, TTA disposed of the 1995-built MV Thor Endeavour. The 42,529 dwt general cargo vessel was sold at a price of USD 4.2 million. In late 2017, the company sold its 2002-built MV Thor Horizon for USD 5.4 million.
TTA said that the sale transactions were in line with prevailing dry bulk shipping conditions, in which older vessels become less competitive and less able to meet operating costs. The proceeds were to be used to improve the efficiency of the TTA fleet and the company’s fleet renewal program.