Thoresen Shipping, the dry bulk shipping arm of Thoresen Thai Agencies (TTA), has been recognized as the second-best performer globally in the Time Charter Equivalent (TCE) rankings for 2024. The achievement was published in the Vessel Index Report by Maritime Advisors, Liengaard & Roschmann, which benchmarks the performance of publicly listed dry bulk shipping companies worldwide.
This marks the seventh consecutive year that Thoresen Shipping has been ranked in the top five globally, a unique accomplishment among all companies included in the report. The ranking highlights the company’s operational efficiency and strategic fleet management, which resulted in a 25.6% premium over the Baltic Dry Index (BDI) for the year.
“We are proud to be recognized as one of the top global performers in TCE Performance,” said Mr. Chalermchai Mahagitsiri, TTA President and CEO. “This result reflects the dedication of our entire team to deliver continuous value, optimize fleet performance, and uphold the highest standards in shipping operations. Thoresen Shipping remains focused on efficient fleet management as we reinforce our position as a leading global dry bulk shipping service provider for over 121 years.”
In addition to its strong revenue performance, Thoresen Shipping maintained cost efficiency with an average vessel operating expense (OPEX) of USD 4,324 per day in 2024. This figure is 17% lower than the industry average and contributes to the company’s ability to sustain top-tier profitability.
As of March 31, 2025, Thoresen Shipping’s fleet consists of 25 vessels, including 23 Supramaxes and 2 Ultramaxes. The fleet has an average size of 55,921 deadweight tons and an average age of 16.8 years.
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