Thoresen Shipping has sneaked into the black for the first three months of 2017 as freight revenue jumped by almost 40%.
The Singapore-based shipowner reported a net a profit of THB 46m ($1.3m) reversing the THB 264m loss seen in the corresponding quarter in 2016.
Thoresen’s fleet, which averaged 26 bulkers during the quarter, earned an average daily time charter equivalent (TCE) rate of $7,015, a year-on-year surge of 87%.
