(From Lloyds List)
Thai shipowners are enjoying the benefits of the bulker boom with Precious Shipping forecasting record profits and Thoresen Thai Agencies in a share placement to expand its fleet, writes Marcus Hand in Bangkok .
'This is going to be a record year, no question,' Precious Shipping managing director Khalid Hashim told Lloyd's List.
Mr Hashim is confident that this year's profits will be in excess of the 1995 boom year, when the handysize specialist made $20m.
On a per-ship basis, in 1995 cashflow was $1.5m for the year on an average daily operating expense of $3,100 and average daily earnings of $7,006.