TTA raises $132.2M

TTA SAID today it has raised 3.964Bn baht ($132.2M) through a rights offering.

Thoresen Thai Agencies added that it plans to use the proceeds "to fund its business expansion plans".

The group noted that its growth strategy "is counter-cyclical": invest now while prices reflect the bottom of the trade cycle, in hope for an upturn in the next 18 months. ...More

11 March 2013



TTA cuts losses in Q1, remains upbeat

The SET-listed Thoresen Thai Agencies Plc (TTA) reported a turnaround in the first quarter of its 2013 fiscal year.Its net loss fell sharply to 138 million baht from 560 million in the same period of the previous year.

Revenue totalled 4.18 billion baht for the three months to December, an increase of 23%, due mainly to its shipping unit and better utilisation of Mermaid Maritime Plc , which operates offshore oil and gas services.

Executive vice-chairman Chalermchai Mahagitsiri said the net improvement resulted from stronger performances at TTA's three main non-shipping units as freight rates in the dry-bulk shipping industry continued to fall. ...More

16 February 2013

Bangkok Post


Thoresen Thai staunches the red ink

Bangkok: Thoresen Thai Agencies is staunching the red ink. Net losses of THB 138m for the first quarter of its 2013 fiscal year that ended on 31 December 2012, compared better than the net losses of THB560m during the same period in 2011. On a normalised basis, earnings before interest and taxes (EBIT) rose 187% to THB 20 million from a negative contribution of THB 23 million the previous year.

The net improvement resulted from stronger performances at TTA’s three main non-shipping business units including offshore division Mermaid Maritime, as freight rates in the dry bulk shipping industry continued to fall. ...More

15 February 2013

Seaship News


Thoresen Thai narrows losses

Thoresen Thai Agencies (TTA) managed to narrow its net loss in the first quarter as revenue improved.

The Bangkok-listed shipping firm recorded net loss of THB138m ($4.6m) in the quarter ended 31 December 2012 compared to a loss of THB560m a year ago.

Revenue for the quarter climbed 23% year-on-year to THB4.18bn due mainly to higher vessel days for Thoresen Shipping and better utilisation and day rates at Mermaid Maritime. ...More

15 February 2013

Seatrade Asia Online


TTA cuts three – quarters of losses

TTA said today it cut three-quarters of its losses for its first quarter, year on year.

Thoresen Thai Agencies said losses for the period ended on 31 December were 138M baht ($4.6M), from losses of 560M baht in the same quarter a year earlier.

The Thailand-listed company attributed the much better numbers to "relatively strong consolidated revenue growth of 23% y/y", mainly resulting from increased vessel utilisation in the bulker business and increased day rates obtained by offshore subsidiary Mermaid Maritime. ...More

15 February 2013

Fair Play


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