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.

Read the whole article

Get 14 days free access.
No credit card required.

  • 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

3i buys AMP out of Esvagt

Private equity firm 3i, which owns half of carrier Esvagt, has agreed with the company's second owner, AMP Capital, to take over all of Esvagt for GBP 268 million, making 3i the sole owner. The transaction is expected to close in the first quarter of 2022.

Further reading

Related articles

Latest news

See all jobs