Thai dry bulk carrier Thoresen Thai, which last year reached financial rock-bottom, a development that resulted in a giant impairment, among other things, felt the improvements in the dry bulk segment in the latest quarter, and the carrier can now presents its best quarter result since 2009.
In the company's interim report, which ended on December 31st, revenue for the group as a whole increased by 26 percent, to USD 164.1 million. The operating result, Ebitda, increased by 138 percent, to USD 33.8 million, and the net result came to USD 13.2 million, an impressive 453 percent improvement over the same period 2013.
More from ShippingWatch
In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.