Thoresen Shipping, the subsidiary of Bangkok-listed Thoresen Thai Agencies, is said to be purchasing its newest vessel to date.

Brokers in the US and in Europe said the company has paid $18.5m for the 63,000-dwt bulker Western Santos (built 2014).

The Jiangsu Hantong Ship Heavy Industry-built vessel, which has been controlled by Japan’s Nisshin Shipping since 2014, passed special survey as late as in February.