Thailand’s Thoresen Thai Agencies (TTA) has reached an agreement to sell its general cargo vessel MV Thor Horizon.
The 47,111 dwt ship was sold to an undisclosed company at a price of USD 5.4 million.
Following the completion of the sale, the Thoresen fleet will consist of 21 vessels with an average size of 53,491 dwt and an average age of 12 years.
The company said that the sale of the 2002-built ship “is in line with prevailing dry bulk shipping conditions, in which older vessels become less competitive and less able to meet operating costs.”
The proceeds from the sale would be used to improve the efficiency of the fleet and the company’s fleet renewal program.