Thoresen Shipping announces opening of European chartering office

Back Jan 03, 2013

Copenhagen office to serve growing client base in Atlantic and Mediterranean regions

Copenhagen, Denmark / Singapore, 3 January 2013 -- Thoresen Shipping, a leading owner and operator of dry bulk vessels, today announced the opening of its new commercial office in Denmark. The move represents Thoresen Shipping's first commercial office in Europe, and will serve the Company's growing group of existing and potential clients with dry bulk cargo requirements in Atlantic and Mediterranean routes.

Spearheading Thoresen Shipping's European operations will be Mr. Henrik Jeremiassen, who joins from a leading European dry bulk operator with whom he served as Senior Chartering Manager. Mr. Jeremiassen, who has over 20 years' experience in the industry will be based in Copenhagen. Also appointed to the Thoresen Shipping Denmark leadership team will be Andreas Rossen, who takes up the position of Senior Chartering Manager. Mr. Rossen likewise has many years of experience in the Handymax/Supramax segment.

Thoresen Shipping has increasingly positioned its fleet in higher yielding transatlantic routes, with a focus on premium service and core premium cargos targeting a diverse set of clients including a growing group of industrial majors. While the bulk of Thoresen Shipping's chartering work has been led by its commercial hub in Singapore, the opening of the Copenhagen office is expected to give Thoresen Shipping an opportunity to further expand its European client base whilst still reporting to the Singapore office. During fiscal 2012, approximately 50% of Thoresen Shipping's fleet was positioned in Atlantic routes.

"With the opening of our brand new European office, we position ourselves optimally and in line with our most pressing commercial requirements. We now have chartering offices with outstanding professional capabilities in our two most important regions, Asia and Europe, supported by an experienced and highly skilled technical and back end unit in our traditional Bangkok base," said Mr. Ian Claxton, Managing Director, Thoresen Shipping. "This structure positions us optimally to continue serving a growing set of diverse clientele across the Pacific, Indian and Atlantic oceans and I am confident that with the skill sets and well-developed networks of our two commercial offices, we will be able to further elevate an already well recognised service offering for our existing and potential partners."

Thoresen Shipping moved its commercial base from Bangkok to Singapore as of January 2012, reflagging all but one of its vessels to the city state. As of November 2012, Thoresen Shipping's owned fleet consisted of 16 vessels with an average age of just over 11.5 years.


About Thoresen Shipping
Thoresen Shipping is the dry bulk shipping arm of Stock Exchange of Thailand listed strategic investment group Thoresen Thai Agencies Plc (TTA). The business operates under two wholly owned subsidiaries of TTA, Thoresen Shipping Singapore Pte. Ltd. (TSS) and Thoresen & Co., (Bangkok) Ltd. In January 2013, Thoresen Shipping opened a chartering office in Copenhagen, Denmark, to serve the needs of clients with cargos in the Atlantic and Mediterranean regions. Thoresen Shipping boasts a modern fleet of 17 owned Handymax and Supramax class vessels, comprising an effective balance of seven geared and grabbed fitted bulk carriers and 10 "open hatch box shaped hold" vessels. For more information, please visit www.thoresenshipping.com


About TTA
Thoresen Thai Agencies Public Company Limited ("TTA") is a strategic investment holding company listed on the Stock Exchange of Thailand (TTA:TB). Its investment strategy is to grow through a balanced and diversified business portfolio of transport, energy, and infrastructure assets, both domestically and internationally. TTA's evolution away from a pure dry bulk shipping operator began in 1995 with an investment in Mermaid Maritime Public Company Limited, which has since been listed on the Singapore Stock Exchange (MMT:SP). Since then, TTA has acquired interests in fertiliser and logistics (Baconco Co., Ltd.) coal-related businesses (SKI Energy Resources Inc, Merton Group (Cyprus) Limited, and Unique Mining Services Public Company Limited), petroleum tankers (Petrolift, Inc) and a port in Southern Vietnam (Baria Joint Stock Company of Service for Import Export of Agro Forestry Products and Fertilizers).


For further information, please contact:
Thoresen Thai Agencies Plc.
Ravisada Angkeeros E-mail: ravisada_a@thoresen.com
Tel: +66 2254 8437 Ext. 393 Mobile: +6681398 5098