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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Thoresen Thai narrows losses

Thoresen Thai Agencies narrowed its net losses to Baht138m ($4.6m) in its first fiscal quarter ending in December from a loss of Baht560m the year before, but the better performance was due to its non-shipping businesses.

TTA's group transport division posted an earnings before interest and tax loss of Baht68m, saying that "dry bulk shipping remained at or near the bottom of the industry cycle." ...More

15 February 2013

Lloyd's List

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Losses lessen for TTA

Thoresen Thai Agencies (TTA) has reduced its first quarter loss despite bulker rates falling. The Thai company’s net deficit was THB 138m ($4.62m) to 31 December, compared to THB 560m a year ago. Earnings before interest and tax rose 187% to THB 20m.But it was reliant on non-shipping income as bulker rates continued to fall.

Higher margins were recorded at its Vietnam fertiliser business Baconco, offshore vessel unit Mermaid Maritime and its coal logistics operation, Unique Mining Services. ...More

15 February 2013

Trade Winds

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Thoresen Thai narrows net loss to USD 4.3m in Q1 FY 2012/2013

Thailand-based ship operator and offshore service provider Thoresen Thai Agencies (BAK:TTA) has narrowed its first-quarter net loss to THB 127.2 million (USD 4.3m/EUR 3.m) in fiscal 2012/13 to September 30, thanks to bigger revenue and lower impairment charges.

The net loss in October-December 2011 totalled THB 592.4 million.

Revenue for the period came in at THB 4.18 billion, up from THB 3.39 billion a year ago, driven by higher number of vessel days, as well as improved fleet utilisation and daily rates. ...More

15 February 2013

SeeNews Shipping

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TTA loses $74.6M, but its Singapore unit profits

TTA's Thor Neptune

THORESEN Thai Agencies said today it lost 2.35Bn baht ($74.6M) for the three months ending 30 June.

However, its Singapore-based shipping arm, Thoresen Shipping Singapore, posted pre-tax profits of 41M baht during the company's third quarter, reversing negative EBIT of 17M baht in the same period last year. ...More

15 August 2012

Fair Play Magazine

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