Thoresen Thai to Expand Fleet on Decade’s Cheapest Vessels
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Thoresen Thai Agencies Pcl, Thailand’s second-largest shipping company, said it will buy vessels to take advantage of the cheapest prices since 2003 even as commodity rates slump.
Thoresen Thai aims to raise as much as 6.37 billion baht ($214 million) from shareholders next week to fund the expansion, Chief Executive Officer Chandchutha Chandratat said in a phone interview yesterday. The company plans to almost double its dry-bulk shipping fleet to as many as 30 from 16 by 2015, he said.