The bulker owner, which TradeWinds newspaper reported today is set to close some offices, posted a loss of THB 103.2m ($2.9m) in the three months to the end of June.

This marked a swing from the THB 79.4m profit recorded at the same stage of last year.

Total revenue of THB 1.21bn for the quarter was less than the THB 1.74bn posted during the second quarter of last year.

Its 34 vessels earned $6,482 per day on average in the quarter.

This was better than the $5,979 of the Baltic Supramax Index but lower than the $8,982 per day Thoresen's ships booked a year earlier.

Thoresen saw its chartered-in vessels lose $238 on average a daily basis in the quarter, down from a profit of $1,778 per day during the previous three months.