As part of its strategic long-term development plan, Thoresen Thai Agencies Public Company Limited (“TTA”) is modernising its fleet by adding several new vessels. Including the Thor Friendship, TTA owns 36 ships. The Thor Friendship was built by Oshima Shipbuilding Co., Ltd. with Sumitomo Corporation representing the shipyard as sales agent, and is the first of five newly crafted ships to be delivered over the next two years.
M.L. Chandchutha Chandratat, TTA President & CEO, revealed that the Thor Friendship will be the newest and largest dry bulk vessel of TTA’s fleet. “This purpose-built vessel will enable TTA to upgrade its cargo service, speed, capacity, and effectiveness in 2010. Dry bulk shipping is a major part of our Transport Group. Under TTA’s diversification strategy, we will invest in three main business segments: Transport, Energy, and Infrastructure in a continuous and disciplined approach,” said M.L. Chandchutha.
This vessel has a 53,350 deadweight ton capacity and was ordered in December 2006. The Thor Friendship is fully equipped with four cargo cranes, each of which has a safe working load of 36 metric tons. TTA entrusted the ship construction to Nagasaki-based Oshima Shipbuilding Co., Ltd. on the strength of the yard’s reputation for high quality shipbuilding and customer service.
“The building process was completed in 8 months. We are proud to say Oshima applied ultra modern technology at the request of TTA in building this cargo ship, reducing her environmental impact, and improving TTA’s remote monitoring capabilities. Moreover, the Thor Friendship will further enhance the dry bulk business prospects for TTA in line with the current shipping strategy,” added
M.L. Chandchutha.
“Thor Friendship is scheduled to start operating in January 2010 on a world wide basis. Including the Thor Friendship, our fleet averages 18.12 years of age and comprises 36 vessels with an average capacity of 26,887 deadweight tons. We plan to take delivery of another Oshima-built vessel in 2011, which will be part of our overall fleet renewal process and increase operating efficiencies,” said M.L. Chandchutha.
About TTA
Thoresen Thai Agencies Public Company Limited is amongst the top 50 companies listed on the Stock Exchange of Thailand with high trading liquidity. Its investment strategy is to grow through a diversified business portfolio of transport, energy, and infrastructure assets, both domestically and internationally. TTA is recognised as a leader in the dry bulk shipping industry. The company has also expanded its investment into other business areas, such as offshore services through Mermaid Maritime Public Company Limited, fertilisers and logistics through Baconco Co., Ltd., and coal-related businesses through Merton Group (Cyprus) Limited and Unique Mining Services Public Company Limited.
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