ShippingWatch

Thorco: Today’s market encourages investments

The multipurpose shipping company Thorco, backed by Hummel owner Christian Stadil and his father, has invested in four ships and is looking to continue investing in bigger ships. "This market is much more profitable”, Thorco CEO says.

The Funen-based shipping company Thorco thinks that the market is close enough to the bottom to make investments in new tonnage. Last week, the shipping company published its purchase of four new multipurpose ships. Three ships coming directly from the shipyards and one ship is half a year old. And that is not the last purchase of the year according to CEO Thomas Mikkelsen.

“We will receive two new ships later this year and we are open to new possibilities which might occur. We have a goal that the fleet will consist of large ships as it is cost-intensive to operate small ones of around 4,000 dwt. It is a lot easier to ensure work for the large ships. We believe that the market has more ups than downs at the moment and this is why we are investing in new tonnage. It is a question of entering the market at the right time and manage ships sensibly”, Thomas Mikkelsen says.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Banks keep tabs on offshore wind – at a safe distance

In the next ten years, more than 100 new vessels for installation and maintenance of offshore wind are needed, and the offshore wind market is growing strongly. But shipping banks continue as bystanders for the time being.

Related articles

Latest news

See all jobs