Thoresen Thai’s shipping stays profitable on higher supramax rates

Thoresen Thai Agencies (TTA)’s shipping segment remained profitable in the third quarter on elevated time charter equivalent rates for supramaxes.

The Bangkok-based shipowner said Thoresen Shipping, its dry bulk division, brought in freight revenues of THB 1.7bn ($48.5m), up from THB 1.59bn in the same period last year. Its TCE rate for supramaxes came in at $13,700 per day on average.