Thoresen Shipping in loss

Thailand based Thoresen Shipping is in loss of $5.6m in second quarter of 2016. Even though BDI rebound from 290 points to 700 level in July 2016, Thoresen Shipping’s revenue was down 34% from 2015. Baltic Dry Index increased because of global coal and grain trade. Thailand based Thoresen Shippin’s fleet consists of mostly supramax bulk carriers with daily average time charter equivalent rate of $5,079 per day. Thoresen Shipping has 21 ships in current fleet.