Thoresen Thai Agencies (TTA) is planning to raise as much as THB6.37bn ($214m) to buy ships as prices plunge to their lowest since 2003.
According to wire reports, TTA plans to almost double its drybulk shipping fleet to as many as 30 from 16 by 2015, with the majority of the planned investment taking place this year to take advantage of lower prices.
TTA aims to buy new and used handymaxes that are about five to eight years old. It is also thinking of adding more rigs to its offshore unit, Mermaid Maritime, with plans to order two tender drilling rigs during the current fiscal year to replace ageing ones.