The Bangkok-listed company posted second quarter net loss of THB257m ($8.65m) compared to a loss of THB205m in the corresponding period of 2012.
Revenues for the quarter climbed 4% year-on-year to THB3.66bn but dropped 13% quarter-on-quarter, primarily due to four vessels of its offshore services arm Mermaid Maritime being dry-docked for various durations during the period.
Thoresen Shipping's revenues rose to THB1.12bn compared to THB753m a year ago, due chiefly to more active charter-in activity.
“Global freight rates are picking up marginally, but we do not expect a strong rebound this year,” said ML Chandchutha Chandratat, president and ceo of TTA. “This means our focus for the dry bulk shipping business will remain on operating on a positive cash flow basis, as we seek out opportunities to renew the fleet while vessel prices remain low.”
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
