Thoresen Shipping News

Thoresen Thai Agencies Public Company reported the sale of M.V. Thor Enterprise, a general cargo vessel with a rated capacity of 42,529 deadweight ton (DWT) built in 1995. The Vessel was sold to a company which is not a connected person of the Company by Thoresen Shipping Singapore, a wholly owned subsidiary of the Company. Sources, quoting data provided by VesselsValue said that although Thoresen has not identified the buyer of the vessel, Thor Enterprise, renamed Asian Enterprise, was sold to India’s Hermes Maritime last month. Marinetraffic.com data also confirms the new name Asian Enterprise. The Vessel was sold at a price of USD 5,600,000. After the sale of M.V.

Thoresen Thai Agencies sells M.V. Thor Horizon, a general cargo vessel with a rated capacity of 47 111 DWT and built in 2002 for  just over US$5.38 million. "The Vessel was sold to a company which is not a connected person of the Company by Thoresen Shipping Singapore Pte. Ltd., a wholly owned subsidiary of the Company," said a press release. After the sale of M.V. Thor Horizon, the Thoresen fleet will consist of 21 vessels with an average size of 53,491 DWT and an average age of 12.0 years. The sale is in line with prevailing dry bulk shipping conditions, in which older vessels become less competitive and less able to meet operating costs.

Thailand-based Thoresen Thai Agencies (TTA) has disposed of all its holdings in affiliated ship agency Thoresen Shipping and Logistics Ltd (TSL). TTA said in an exchange filing that it had disposed of around 240,000  TSL shares to Thailand-based Naxco Shipping and Logistics. The Bulker says stake sale is in line with strategy to restructure and strengthen shipping business. "TTA hereby confirms the disposition of our investment in TSL, as part of an ongoing strategic review of our different businesses and subsidiaries," says a press statement. The total amount received from the sale of shares in TSL is Baht 28,000,000 (Baht Twenty Eight Million) for 245,000 shares. The payment was made in full on 13 July 2016.

The dry bulk shipowner Thoresen Shipping rolled out new subsidiary Thoresen Shipping Arabia as part of its expansion plan to the Middle East.With a new office in Dubai for Thoresen Shipping Arabia DMCC, the dry bulk shipping company Thoresen Shipping announced its expansion to the Middle East.A press statement from Ian Claxton, managing director, Thoresen Shipping, said, "This is the fifth market we have expanded into, and follows successful launches into Denmark and South Africa over the last eighteen months or so, both of which, combined with our Singapore presence, have delivered solid business performance improvements."Thoresen Shipping is an international dry bulk shipping company with offices in Thailand…