Thorco Shipping finished 2015 with a positive result for its ordinary shipping activities in spite of continuing tough market conditions, informs the carrier in a statement following an article published this week by Danish media Finans, which reported that a loan of around USD 36 million provided in 2014 by the carrier's owners, the Stadil family's Thornico group, has been converted into equity for Thorco Shipping.
"Thorco Shipping A/S is part of the global Thornico conglomerate which includes around 120 businesses in a broad range of sectors, and this fact provides financial strength and security when the market is unstable. In October 2015, Thornico therefore converted a loan to Thorco Shipping in order to strengthen the balance," informs the carrier.
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