Thais offload

Precious Shipping and Thoresen Thai have both sold an elderly bulker, the two Thai shipowners confirmed Tuesday.

Precious said it had sold the 33,024-dwt Nipha Naree (built 1984) for $6m to an unnamed company incorporated in Nevis.

The sale, due to be completed by the end of the first quarter, will leave Precious with 22 ships with an aggregate capacity of 548,234-dwt.

Precious said the deal was in line with its “strategy to rejuvenate its fleet by selling its older vessels and acquiring younger and bigger vessels.”

Meanwhile, Thoresen has sold its 16,248-dwt Thor Spirit (built 1986) for demolition for around $1.875m to Nevis-based Confidence Shipping.

Thoresen said the vessel disposal will result in an accounting gain net of taxes of THB15m ($451,766) after deducting costs of the sale.

The sale of the Thor Spirit will leave Thoresen with a fleet of 33 vessels with an average size of 27,712-dwt and an average age of 17.8 years.

“The sale is in line with prevailing dry-bulk shipping conditions, in which older vessels become less competitive and less able to meet operating costs,” Thoresen said.

“Proceeds from the sale will be applied towards our new build vessel programme or younger second-hand vessel acquisitions.”

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