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Thoresen sells M.V. Thor Horizon bulk carrier

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Dry Bulk,

Thoresen Thai Agencies sells M.V. Thor Horizon, a general cargo vessel with a rated capacity of 47 111 DWT and built in 2002.

The M.V. Thor Horizon vessel was sold for just over US$5.3 million (approximately Baht 175 258 716).

The vessel was sold to a company that is not a connected person of the company by Thoresen Shipping Singapore Pte. Ltd (TSS), a wholly owned subsidiary of the company.

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 years.

According to Thoresen, the sale of M.V. Thor Horizon “is in line with prevailing dry bulk shipping conditions, in which older vessels become less competitive and less able to meet operating costs”. The company noted that proceeds from the sale also in line with the company’s strategy to “improve the efficiency of the fleet and the company’s fleet renewal program”.

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Dry bulk shipping market