AsiaDry Cargo

Thoresen Thai looks to fertilise growth outside shipping

Bangkok: Thai shipping company Thoresen Thai Agencies is considering enlarging its investment in fertiliser factories this year as part of its business expansion plans. The company is looking at Africa and Asia as priority markets.

“We are looking for growth, not just organic, outside Thailand by acquiring more potential interests in fertiliser factories. Now, we are in talks for two merger and acquisition deals,” said Chalermchai Mahagitsiri, president of Thoresen Thai Agencies.

Currently shipping contributes one third of Thoresen Thai’s revenue, about 40% comes via Mermaid Maritime, and the remaining comes from the fertiliser business.

“There is still a lot of room for growth in the fertiliser business, especially in agricultural-oriented countries,” said Chalermchai, adding that the company would use proceeds from selling shares of PM Thoresen Asia Holdings to fund the deals.

PM Thoresen Asia Holdings is in the process of listing its shares on the Stock Exchange of Thailand and subscription for IPO shares is starting from March 30 to April 3.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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