The dry bulk fleet expanded significantly from twenty-five vessels to thirty-three vessels due to the strong freight market. TTA changed its par value from Baht 10 per share to Baht 1 per share.
TTA won the Best Performance Award in the Service Industry category from the SET.
TTA stressed greater diversification in its business by increasing its stake in Mermaid to 74.01% as of 30 September 2006 to increase its exposure in the rapidly expanding offshore oil and gas markets.
TTA was named one of the 200 best listed companies in Asia with revenues under US$ 1 billion from Forbes Asia magazine.
TTA issued convertible bonds in an amount of US$ 169.80 million to fund a gradual fleet renewal and expansion plan.
Mermaid raised SG$ 246 million from its initial public offering on the Singapore Exchange Securities Trading Limited.
TTA expanded its business in Indonesia with a 49% acquisition of PT Perusahaan Pelayaran Equinox.
TTA won Thailand's Best-Managed Medium-Cap Corporation Award from Asiamoney Magazine.
TTA established Soleado Holdings Pte. Ltd. as an investment holding company for projects, assets, or companies outside of Thailand.
TTA acquired an 89.55% stake in Unique Mining Services Public Company Limited, a coal logistics company in Thailand.
TTA acquired a 100% stake in Baconco Co., Ltd., a fertiliser company in Vietnam.
TTA acquired a 21.18% stake in Merton Group (Cyprus) Ltd., which is a partner in the Philippines.
Mermaid raised SG$ 156 million by way of a rights issue to pursue its business growth.
Soleado acquired a 38.83% stake in Petrolift, a petroleum tanker company in the Philippines.
Mermaid acquired a 100% stake in Subtech Ltd. in Seychelles to expand its subsea engineering services in the Middle East.
TTA issued unsubordinated and unsecured domestic debentures of Baht 4.0 billion to refinance existing loans and to increase working capital.
TTA redeemed the first maturity of convertible bonds amounting to US$ 34.30 million. The aggregate principal amount of outstanding bonds as of 30 September 2010 was US$ 68.60 million.
TTA acquired four dry bulk vessels, three in the second-hand market and one new build vessel. Mermaid acquired one second-hand and three new build subsea vessels.
Soleado acquired a 20% stake in Baria Serece as part of an overall strategy to create an integrated logistics business in Vietnam.
TTA acquired three dry bulk vessels, two in the second-hand market and one new build vessel.
Soleado acquired an additional 1.166% ownership in Petrolift Inc. ("Petrolift") to have 40.0% ownership.
Soleado acquired 33.33% of Qing Mei Pte. Ltd. ("Qing Mei") to develop a new coal-mining project in Indonesia.
TTA redeemed the second tranche of convertible bonds amounting to US$ 34.30 million. The aggregate principal amount of outstanding bonds as of 30 September 2011 was US$ 34.30 million.
Asia Offshore Drilling Limited ("AOD") raised US$ 180 million from the international capital markets and signed contracts to build 3 jack-up rigs worth USD 538 million with Singapore Keppel FELS Limited ("Keppel FELS"). Mermaid and Seadrill Limited ("Seadrill") each own 33.75% of AOD. AOD shares were successfully listed on the Oslo Stock Exchange on 15 July 2011.
The total owned fleet as of 30 September 2011 consisted of fifteen dry bulk vessels, eight offshore support vessels, and two tender drilling rigs. Additionally, approximately 5.70 dry bulk vessels were chartered in to meet client demand.
TTA acquired one second-hand dry bulk vessel. The business restructuring of dry bulk shipping was completed as eight Thai flagged vessels were transferred to Thoresen Shipping Singapore Pte. Ltd.
TTA's convertible bonds matured on 24 September 2012.
The total owned fleet as of 30 September 2012 consisted of sixteen dry bulk vessels, eight offshore support vessels, and two tender drilling rigs. Additionally, approximately 4.5 dry bulk vessels were chartered in to meet client demand.
TSS acquired three dry bulk vessels, one second-hand and two new build vessels. AO D took delivery of three new build jack-up rigs.
TTA established Thoresen Shipping Denmark APS as a commercial office based in Copenhagen, Denmark to serve its European client base.
TTA raised Baht 3,964 million by way of a rights issue in combination with warrants to purchase ordinary shares of TTA (TTA -W3) to pursue its business growth.
Mermaid raised SG$ 175.78 million by way of a rights issue to pursue its business growth.
The total owned fleet as of 30 September 2013 consisted of eighteen dry bulk vessels, eight offshore vessels, two tender drilling rigs, and three jack-up rigs (33.76% owned by Mermaid). Additionally, approximately thirteen full-time equivalent dry bulk vessels were chartered in to meet client demand during the year.
TSS acquired six second-hand dry bulk vessels.
Premo Shipping Plc., a 99.9% owned subsidiary of TTA, was established as a result of an amalgamation of 45 Thai dormant shipping companies to increase operating efficiencies both in terms of revenue and cost management.
TTA established Thoresen Shipping South Africa (PTY) Ltd. as a commercial office based in South Africa to serve both existing European client base and also new South African client base.
PM Thoresen Asia Holdings Plc. ("PMTA"), a TTA's wholly owned holding company investing in 100% of Baconco, was established on 7 June 2013 and was converted to a public company limited on 4 February 2014.
TTA disposed the investment in PT Perusahaan Pelayaran Equinox ("Equinox"), Indonesia, a 49% stake owned by TTA, on 29 January 2014.
Mermaid's subsidiary, MTR-3 (Singapore) Pte. Ltd., MTR-4 (Singapore) Pte. Ltd., and Mermaid Offshore Services Pte. Ltd., entered into the agreements to build two new tender rigs and one new dive support vessel with China Merchants Industry Holdings Co., Ltd. for an aggregate sum of USD 436 million on 9 January 2014.
TTA raised Baht 4,174 million by way of a rights issue in combination with warrants to purchase ordinary shares of TTA (TTA-W4) to pursue its business growth.
The total owned fleet as of 30 September 2014 consisted of 24 dry bulk vessels, six offshore vessels, two tender drilling rigs, and three jack-up rigs (33.76% owned by Mermaid). Additionally, approximately 18 full-time equivalent dry bulk vessels were chartered in to meet client demand during the year.
TTA raised Baht 7,286 million by way of a rights issue in combination with warrants to purchase ordinary shares of TTA No. 5 ("TTA-W5") for business expansion and debt repayment.
PMTA, a 67.2% owned subsidiary of TTA, the holding company for Vietnam producer/supplier of chemical fertilizers and agrochemical products, Baconco was listed on the Stock Exchange of Thailand ("SET") on 6 May 2015.
TTA issued senior unsecured domestic debentures of Baht 2.0 billion to refinance existing loans and increase working capital.
Mermaid and PTT Exploration and Production Public Company Limited ("PTTEP") signed a Memorandum of Understanding on 27 October 2015 for cooperation of research and development of autonomous underwater vehicles ("AUV") with the objective to empower the innovative capability of Thai people to develop full functional AUV for petroleum exploration and production activities.
PMTA secured exclusive distributorship of the highly innovative and powerful "N-Protect" urea fertilizer products from global chemical production leader, Solvay (Belgium). The product can accelerate plant growths and reduce urea fertilizer use by as much as 20%, in Vietnam, Laos, Cambodia and some African countries.
The total owned fleet as of 31 December 2015 consisted of 24 dry bulk vessels, seven offshore vessels, two tender drilling rigs, and three jack-up rigs (33.8% owned by Mermaid). Additionally, approximately 14.2 full-time equivalent dry bulk vessels for FY 2015 were chartered in to meet client demand during the year.
Thoresen was established in Hong Kong and initially provided shipping services to Norwegian companies on the coast of China and Asian businesses trading between China and Siam.
Thoresen & Co., Ltd., Hong Kong established a branch office in Thailand to provide ship agency and brokerage services.
In order to separate the ship agency and brokerage businesses from the ship owning business, Thoresen Thai Offshore Ltd. changed its name to Thoresen Thai Agencies Ltd. on 20 October 1986. All ship agency and brokerage activities were transferred to this company.
Thoresen Thai Agencies Ltd. became a holding company. It was decided that Thoresen Thai Agencies Ltd. would own shares of all newly established Thoresen Group companies, including all vessel owning companies, as the dry bulk fleet started to expand.
Thoresen Thai Agencies Ltd. converted into a public limited company.
The ordinary shares of Thoresen Thai Agencies Plc. ("TTA") were listed on the Stock Exchange of Thailand ("SET").