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Clipper Projects merges with Thorco Shipping

Thorco Shipping and Clipper Projects will merge to create the world's second-largest mulltipurpose and project shipping company and operator. The collaboration begins July 1st this year.

Clipper Projects and Thorco Shipping merging into a new company under the Thorco name, thus becoming the world's second-largest multipurpose and project shipping company and operator. The fleet will have a total of 90 multipurpose ships with a capacity of 400 tons and sizes of 5,000 dwt and 20,000 dwt. The shipping company will have 130 employees and offices in 11 countries worldwide.

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Henrik Ramskov becomes CEO of the new company, bringing experience from both Maersk Tankers and Damco.

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Photo: Fra venstre; Kristian Mørch, Partner og Group CEO i Clipper, Henrik Ramskov & Thomas Mikkelsen

“Clipper is very pleased with the merger. We are happy to participate in the consolidation of the industry, which for a long time has been an ambition for us, and we are confident that the new entity will be able to generate significant value to its partners,” says Kristian Mørch, Partner & Group CEO in Clipper Group and responsible for Clipper Projects, adding:

“This is in our view the best way to ensure a profitable business and future growth in the current multipurpose market.”

And he's supplemented by Thorco's Chairman:

“At Thorco we have been growing very fast over the past 10 years, but we have for some time been looking at making a quantum leap, and with the opportunity to merge with Clipper Projects, we can make this leap. We believe that the new Thorco will be able to provide a significant and flexible platform, which is unmatched in the industry and will create great value for our customers and partners,” says Thor Stadil, who will continue as Chairman of Thorco, in a press release.

Kristian Mørch, the soon-to-be former CEO of Clipper Projects, joins the Board of the new company and continues as a partner in Clipper.

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Clipper's Danish activities made USD 70 million deficit in 2012

Thorco Shipping turns deficit into profit

Clipper loses tax trial once again

Thorco sells off old ships

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