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Thorco Projects optimistic again after losing nearly USD 150 million

It cost Thorco and the Stadil family roughly USD 150 million to be a shipowner, but that is over now, and Thorco Projects CEO Thomas Mikkelsen is highly optimistic about a project market where one commodity in particular boosts his confidence in the future.

Photo: PR / Thorco Projects

Although Thorco Projects has moved into a fashionable red-brick house in Hellerup, north of Copenhagen, this is as such not an upgrade to its headquarters.

There was quite simply not a need for a lot of space after the Stadil family's project cargo carrier finally cut off its entire asset leg and reduced its global staff to 60, or half the number of personnel employed when the company was at its highest point.

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