ShippingWatch

Thorco Projects in large-scale Dutch expansion

A Thorco-managed Dutch company combines 61 multipurpose vessels in a new joint venture with ships from, among others, bankrupt Flinter Group and Abis Shipping, Otto Torenbosch, head of Thorco Shipping in the Netherlands, tells ShippingWatch.

Thorco Projects's subsidiary in the Netherlands has acquired 10 multipurpose and heavy lift vessels from bankrupt Dutch Flinter Group, from which major bank ING withdrew financing two months ago.

At the same time, Thorco Projects becomes majority stakeholder in a new joint venture with two Dutch carriers and ship management companies, Feeder Lines and Navigia, which brings the combined fleet in the new Dutch company Shipping Company Groningen to 61 vessels, says the head of Thorco Shipping Holland, Otto Torenbosch, to ShippingWatch.

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