Asia/Pacific News
Thai Carrier Buys Secondhand Bulker for $19.5M
Thoresen Shipping Singapore Pte. Ltd., a subsidiary of Thoresen Thai Agencies (TTA) says it has acquired a secondhand Supramax dry bulk vessel for $19.5 million as part of an effort to build an efficient fleet.
"The acquisition is part of TTA's on-going fleet renewal plan to develop a fleet of modern and standard dry bulk vessels and increase our operating efficiencies," the company said.
"TTA's short-term fleet objective is to have a balanced mix of Handymax and Supramax vessels."
The company's statement does not name the seller of the 55,862 deadweight tonne (dwt) M.V. Media Chennai, but records indicate it was previously owned by d'Amico International Shipping, and industry news site IHS Maritime identifies the Italian company as the seller.
Managing Director Ian Claxton said the acquisition is the company's fifth over the past 18 months.
"This newest addition to our increasingly standardised and efficient fleet once again allows us to benefit from economies of scale through enhanced operating efficiencies and an increasingly specialised level of expertise within our market segment," he said.
"As demand growth in the drybulk trade begins to outpace supply, freight rates are expected to start edging upwards, which is also likely to boost the prices of secondhand and newbuild vessels.
"We are thrilled to have added such a high-quality asset at an attractive market price, and will look for further opportunities to continue our fleet expansion through the remainder of the year."
The vessel, which will be renamed the M.V. Thor Mercury, will operate on Mediterranean and Atlantic routes.
The ship was built by Kawasaki Shipbuilding Japan in 2005.
