Thoresen Thai pockets $800,000 from agency sale

Thoresen Thai pockets $800,000 from agency sale

Thoresen Thai Agencies (TTA) has sold its 49% stake in agency business Thoresen Shipping and Logistics (TSL) to its joint venture partner Naxco Shipping and Logistics (Thailand), a subsidiary of Naxco Asia. The sale gives the Thai firm $800,000.

“The disposition of stake in TSL is in line with TTA’s strategy to restructure and strengthen the shipping business,” TTA said in a release.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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