Thoresen Thai Agencies is to raise around THB 10bn ($322m) to spend on new and modern supramax bulkers and possibly the offshore sector.
The Bangkok-listed company announced the plan for a one-for-one rights offering.
It said the funds would be used to support its bulker fleet renewal program.
Thoresen intends to fund purchases of up to fifteen supramax bulkers, either brand new or secondhand less than eight years old.