The Singapore-based outfit reported net income of THB 117m ($3.6m) versus a loss of THB 30m 12 months ago.
It was the shipowner’s strongest first quarter result in three years and was helped by an improved cost structure.
During the quarter Thoresen’s ships achieved rates of $10,446 per day compared to $7,542 during the same period last year.
Owner expenses of $4,057 per day remained below the industry average of $5,121 while total costs dropped to $7,806 per day versus the $9,822 seen a year ago.
“We
