Ho Chi Minh City: Vietnam-based dry bulk shipping firm Trai Thien USA unveiled last Friday the signing of six long-term contracts with regional agents to transport about 1.5m tonnes of cargo in Southeast Asia over the next three to five years, Seatrade Asia reports.
The contracts with agents based in Singapore, Malaysia, Vietnam and the Philippines represent an estimated $45m in revenues at current rates and accounting for about 85% of the current fleet's capacity, according to Trai Thien USA.
“We consider these long-term contracts to be a strong indicator of growing demand and confidence in the market (...),” said Khanh Nguyen, president and founder of Trai Thien USA.
The company operates a fleet of six dry bulk vessels with a combined capacity of 21,990 dwt.
It has made deposits to acquire six more bulkers of 7,600 dwt each, with deliveries expected from 2012.
The contracts with agents based in Singapore, Malaysia, Vietnam and the Philippines represent an estimated $45m in revenues at current rates and accounting for about 85% of the current fleet's capacity, according to Trai Thien USA.
“We consider these long-term contracts to be a strong indicator of growing demand and confidence in the market (...),” said Khanh Nguyen, president and founder of Trai Thien USA.
The company operates a fleet of six dry bulk vessels with a combined capacity of 21,990 dwt.
It has made deposits to acquire six more bulkers of 7,600 dwt each, with deliveries expected from 2012.