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Thorco isolates costly vessel ownership in separate entity

Thorco Shipping has enclosed the carrier's costly, owned fleet in a separate company - effectively splitting the carrier in two - in response to the severe crisis in the shipping industry. "We bought some ships at far too high prices," Chairman Thor Stadil tells ShippingWatch.
BY OLE ANDERSEN

Thorco Shipping, which is owned by Thor and Christian Stadil along with CEO Thomas Mikkelsen, has split the carrier in two in a move that isolates the financially troubling ownership of vessels in a separate entity, Chairman Thor Stadil tells ShippingWatch in relation to the publication of Thorco Shipping A/S' 2015 annual report.

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