Dry bulk shipping company Thoresen Thai Agencies (TTA) has paid THB346.38m ($11.5m) to acquire a 20% stake in Baria Serece, which controls Phu My Port in Vietnam.

The port is capable of receiving up to six million metric tons of agricultural products, coal and fertiliser and is the nation’s largest dry cargo deepwater port.

TTA’s investment unit, Soleado Holdings, will purchase the stake from Singapore-based mineral fertiliser provider Yara Asia.