ShippingWatch

Thorco: Multi-purpose under pressure in 2015

Thorco is preparing for a flat 2015 where the diving oil price could remove projects from the market, CEO Thomas Mikkelsen tells ShippingWatch. Meanwhile, the company's accountants question the carrier's asset values in the latest annual report.

2015 looks set to become another tough year for carriers working in multi-purpose and heavy-lift. Danish Thorco, which also manages Clipper's ships and operates a combined fleet of 90-100 vessels, is preparing for a scenario with even fewer cargoes and fierce competition, caused by factors such as the dramatic slide in the oil price in recent months, CEO Thomas Mikkelsen tells ShippingWatch.

So 2015 will not be a great year, but rather more in line with 2014, which will also not change much in comparison to 2013, says Mikkelsen, though he does not yet have all the numbers in hand from the past year.

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