2003

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.

2005

TTA won the Best Performance Award in the Service Industrycategory from the SET.

2006

TTA stressed greater diversification in its business by increasing its stake in Mermaid Maritime Ltd. (“Mermaid”) to 74.01% as of 30 September 2006 to increase its exposure in the rapidly expanding offshore oil and gas markets.

TTA stressed greater diversification in its business by increasing its stake in Mermaid Maritime Ltd. (“Mermaid”) to 74.01% as of 30 September 2006 to increase its exposure in the rapidly expanding offshore oil and gas markets.

2007

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 (“SGX”). Mermaid acquired a 22.5% stake in Allied Marine & Equipment Sdn. Bhd. and formed a drilling partnership with Kencana Petroleum Berhad.

2008

TTA expanded its business in Indonesia with the 49% acquisition of PT Perusahaan Pelayaran Equinox (“Equinox”).

TTA won Thailand’s Best-Managed Medium-Cap Corporation Award from Asiamoney Magazine.

2009

TTA established Soleado Holdings Pte. Ltd., as an investment holding company for projects, assets, or companies outside of Thailand.

TTA expanded its business in Vietnam by acquiring Baconco Co., Ltd, a fertiliser company.

TTA acquired a 21.18% interest in Merton Group (Cyprus) Limited, a coal mining venture in the Philippines.

Mermaid raised SG$ 156 million gross proceeds by way of a rights issue to pursue its business growth.

TTA announced the repurchase and cancellation of US$ 56.40 million of its outstanding convertible bonds. The aggregate principal amount of outstanding bonds as of 30 September 2009 was US$ 113.40 million.

The total owned fleet as of 30 September 2009 consisted of thirty-six general cargo and dry bulk vessels, seven offshore support vessels, and two tender drilling rigs. Additionally, approximately twelve dry bulk vessels and two offshore support vessels were chartered in to meet client demand.

1904

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.

1926

Thoresen & Co., Ltd., Hong Kong established a branch office in Thailand to provide ship agency and brokerage services.

1993

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.

1994

Thoresen Thai Agencies Ltd. converted into a public limited company.

1995

The ordinary shares of Thoresen Thai Agencies Plc. (“TTA”) were listed on the Stock Exchange of Thailand (“SET”).