Bangkok: Thoresen Thai Agencies (TTA) has sold an old bulker for $4.5m, the company revealed in a statement. The 41,000 dwt Thor Alliance, built 1984, was sold to Gayard Enterprises Corp of Belize, giving TTA a $1.74m profit on the ship.
TTA said: "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.
"[We] unanimously resolved to sell the vessel and the proceeds from the sale will be applied towards our new build vessel programme or younger second-hand vessel acquisitions."
TTA's fleet now comprises 38 vessels with an average size of 28,564-dwt. [28/07/09]
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