Thoresen Thai sells off elderly vessel

Bangkok: Thoresen Thai Agencies (TTA) has sold off another elderly general cargoship. The Bangkok-based shipowner has sold the 1986-built, 16,211 dwt Thor Skipper for $3.5m to Allseas Holdings in the British Virgin Islands. TTA said it booked a net gain of Baht44.85m from the sale. Following the sale of Thor Skipper the company's fleet will have an average size of 29,435dwt and an average age of 16.27 years. "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," TTA said. [22/09/10]