Thoresen Thai Agencies Public Company Limited (“TTA”) hereby reports the acquisition of a second-hand dry bulk vessel namely, M.V. Crystal Palace (the “Vessel”), from a company which is not a connected person of the Company by Thoresen Shipping Singapore Pte. Ltd. (“TSS”), a wholly owned subsidiary of TTA. The M.V. Crystal Palace (to be renamed M.V. Thor Confidence) is a Supramax Vessel with a 58,781 deadweight ton (“DWT”) capacity built in 2008.

The purchase price of the Vessel is USD 13,000,000 (United States Dollars Thirteen Million Only), or approximately Baht 444,259,400 (Baht Four Hundred Forty Four Million Two Hundred Fifty Nine Thousand and Four Hundred Only), using a USD/THB exchange rate of 34.1738).

With this additional vessel, the Thoresen-owned fleet comprises a total of 21 vessels with an average size of 53,188 DWT and an average age of 11.82 years.

When the transaction is combined with other acquisition transactions during the last 6 months, it is not subject to the notification of the Capital Market Supervisory Board No. TorJor. 20/2551 re: Rules and Regulations for Executing Significant Transactions Categorized as an Acquisition or Disposal of Asset, and Notification of the Board of Governors of The Stock Exchange of Thailand re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets B.E. 2547 (2004).

Source: Thoresen Thai Agencies Public Company Limited