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Bangkok Post, Thailand, Business Notes Column.
Mar. 6--PRECIOUS SHIPPING RETURNS TO PROFIT: Precious Shipping Plc sailed back into the black last year despite a second-half downturn in freight rates.
The company reported a net profit of 673 million baht on revenues of 4.05 billion baht, compared with a net loss of 366 million baht in 2000.
Freight rates dropped from a peak in the second quarter of $6,197 a day to $5,254 a day in the fourth quarter.
The company disposed of four old vessels last year, bringing its fleet down to 31 ships with a total capacity of 703,687 deadweight tons (dwt), said managing director Khalid Hashim.
The company plans to raise fleet capacity to around ...
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Source: HighBeam Research, Bangkok Post, Thailand, Business Notes Column.