Freight News, Sea

Thorco Shipping upgrades fleet with five vessels

[ December 5, 2015   //   ]

Thorco Shipping has acquired five large modern tweendeckers. The acquisition is a part of Thorco’s strategy to keep their fleet young and modern to maintain their strong position as a market leader regarding the quality and size of the fleet.
Thorco Shipping holds one of the largest multipurpose/project fleets in the world. The acquisition is one in a series of acquisitions in Thorco within recent years. Just one year ago Thorco bought two 20,000 DWAT vesssels, Isadora and Isabella, from Maersk Line, Limited. Moreover, Thorco currently has an ongoing program in Japan with ten newbuildings in the L-class.

According to CEO and partner in Thorco, Thomas Mikkelsen, the expansion within this segment of 15,000 – 20,000 DWAT has been and is a strategic focus in Thorco, and the five new vessels thus compliments the existing fleet well. “The new vessels are of a well-known design to Thorco, have high specifications, are modern and more fuel efficient, which all together meet the increasing demands of the industry and optimize our performance and efficiency to serve our clients in the best way,” Mikkelsen said.

Thorco is part of the conglomerate Thornico, consisting of around 120 companies within a broad range of industries. Christian Stadil, owner and CEO of Thornico is particularly happy to see this deal go through. “We firmly believe that when a market is under pressure, when the market is like a closed door, this also equals an open door in terms of the opportunities that will arise, so when an opportunity like this presents itself, we strike,” he says.

The five vessels, respectively from 2010, 2011 and 2012, will replace some of the older tonnage in the fleet. In this context, Thorco will later this year face out four green type vessels which have turned 15 and 16 years old. The new vessels will form a new Thorco R-class and will serve Thorco’s global platform counting 15 offices around the globe. The first ones will be delivered to Thorco mid-December and thereafter at weekly intervals.