Thorco companies were most likely insolvent already in 2016
According a trustee two central companies in Thorco's shipping business ran out of money in 2016. He now wants to investigate whether the decision to keep them running led to additional losses for creditors.
The freight market is so tense that it takes very little for it to worsen. DSV Panalpina CFO Jens Lund estimates that a market normalization may not occur until 2023. "Should another Yantian situation occur, it's all up in the air again," he tells ShippingWatch.
Martin Fruergaard has presented his key strategy in his first public appearance as the new CEO of Hong Kong-based Pacific Basin. The dry bulk operator has posted unusually strong half-year results on the back of a market upturn that by all appearances has only just begun.
Ferry and RoRo operator Finnlines saw growth in several areas in the second quarter of the years although the Covid-19 continues to put pressure on the passenger business. Larger cargo volumes helped boost the revenue.