Thorco's shipowning ended in bankruptcies and million-dollar claims
Thorco bought a lot of ships from its rivals after the financial crisis. But the market never recovered, and now the gamble has resulted in bankruptcies, large claims and a loss of DKK 1 billion. There was no other way out, says Thor Stadil, who has stepped down as chairman.
Thor Stadil thought he had spotted a golden opportunity when many vessels suddenly appeared on the market at low prices in the years following the financial crisis.
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