For the past two years and unlike most other players in the shipping industry, Thorco Shipping - which is controlled by Thor and Christian Stadil - has made zero fleet asset value impairments to correspond with the current market values. Impairments that would have had a negative effect and which would have lessened the carrier's result and equity.
This lack of impairment on asset values made the company's accountants at PricewaterhouseCoopers note a precaution on the carrier's pricing of its fleet in the annual report 2013, as the company's vessels were listed at book values exceeding the so-called recoverable amount.
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