ENTH

Shipping



Shipping

The flagship company is Thoresen Shipping Singapore Pte. Ltd. (“Thoresen Shipping”), a 100%-owned subsidiary of TTA. Thoresen Shipping is an internationally acclaimed participant in the global freight markets with roots going back over 110 years.

Thoresen Shipping provides deep-sea transportation services to customers from all corners of the world, hauling a wide range of dry bulk and break bulk commodities such as mineral ore, coal, agriculture products, construction materials, and steel products. Our fleet services our clients’ requirements in the spot market under time charters and voyage charter, as well as through Contracts of Affreightment (“COA”). In addition to our own vessels, we engage in freight trading activities using our owned tonnage as well as a fleet of chartered-in vessels from the market. The combined fleet is commercially managed by Thoresen’s experienced and professional teams based in Singapore, Thailand, United Arab Emirates, and London.

Business Highlights

(1) Ranked 2nd place for 2020 among other listed companies and be the only one ranked the top five performers in all three years in “Vesselindex Performance Report” by Maritime Advisors, Liengaard & Roschmann.

(2) Low vessel operating expenses (OPEX) of US$ 3,709 per day in 2020, 18% lower than industry OPEX of US$ 4,503 per day (Industry OPEX was issued in November 2020, compiled BDO, formally known as Moore Stephen).

Owned Fleet Data (as of 31 March 2021)

No. of Owned Vessels: 24 vessels (22 Supramaxes and 2 Ultramaxes)
Average Size: 55,913 deadweight tonnage (DWT)
Average Age: 12.95 years

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