SOURCE: Trai Thien USA

May 04, 2010 07:30 ET

Trai Thien USA Inc Announces New Ship Acquisition to Meet Growing Demand

HO CHI MINH CITY, VIETNAM--(Marketwire - May 4, 2010) -  Trai Thien USA Inc (OTCBB: TRTH) announced that it has acquired a new vessel in order to meet continued and growing demand for its Southeast Asia-based dry bulk shipping services. Named Trai Thien 69, the vessel has a capacity of 4,300dwt ("dead weight tons"). This class of ship provides an optimal payload size for catering to the small- and medium-sized businesses which dominate the region, allowing Trai Thien USA to focus additional tonnage on the expanded servicing of Southeast Asia routes where intra-ASEAN trade is growing and charter rates are relatively steady. This specific vessel size and carrying capacity enhances the Company's operational efficiencies by providing greater opportunities to front and back-haul and thereby reducing idle time and ballast voyages.

Khanh Nguyen, Chairman of Trai Thien USA Inc, commented, "The acquisition of Trai Thien 69 allows us to continue increasing the average capacity of our young, modern fleet, which averaged approximately 3,500dwt per vessel before the acquisition. The new ship is another step in a concerted and aggressive effort to expand our capacity in order to meet strong customer demand for our shipping services throughout this dynamic region."

Haley Manchester, CEO of Trai Thien USA Inc, added, "While slightly larger than our average vessel capacity, Trai Thien 69 is considered a highly versatile vessel. Its draft efficiency and deck-side cranes allow it to broadly service secondary sea and river-based ports that dominate our trade by its ability to overcome common infrastructure constraints associated with berthing depths and underdeveloped jetty-based cargo handling equipment. Because of their close proximity, our ability to access these secondary ports means greater operational efficiencies for our customers. Trai Thien USA also benefits by mitigating exposure to the operational inefficiencies affecting primary ports throughout the region. This is a win-win situation that translates to better margins for both Trai Thien and our customers." The dry bulk shipping market has shown strong resilience, even during the global economic downturn. Since the Asia Pacific region accounts for about seventy percent of world sea-borne trade in bulk commodities, Trai Thien USA is optimally positioned to take advantage of strong long-term growth in this market.

About Trai Thien USA Inc
Trai Thien is a fast-growing Vietnam-based dry bulk shipping company specializing in providing ocean transportation services for raw material input items such as coal, ore, grain, cement, steel and fertilizer within the Southeast Asia region. The Company currently operates a fleet of six owner-operated and term-leased geared vessels. Due to growing demand from an ever-expanding base of overseas and local Vietnamese customers, Trai Thien plans to aggressively acquire additional vessels and to expand the geographic regions that it services, including more profitable routes in East and South Asia. The Company's Vietnam-based operations are located in Ho Chi Minh City, which together with the surrounding areas accounts for more than seventy percent of Vietnam's total annual cargo traffic. Trai Thien's operations base in HCMC is in close proximity to key stakeholders and service facilities, which in turn enhances operational efficiencies and profitability for the Company's shareholders.

Safe Harbor Statement: Under The Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectation.

Contact Information

  • CONTACT:
    Kevin Holmes
    Chesapeake Group
    410-825-3930