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Thornico launches new dry bulk shipping firm

Thornico launches new dry bulk shipping firm
Denmark’s family-owned conglomerate Thornico has launched a new dry bulk shipping firm Thorco Bulk, which will primarily operate in the handysize and supramax segments.

Thornico said the new company will be an asset-light operator, and will be led by former Western Bulk employees Marc Slinger, Rene Mikkelsen and Uffe Hansen.

“Rene, Marc and Uffe have a great track record, great know-how and expertise within the field and furthermore, an eye for sound business practice. We thus believe that the business model is sound and puts us in a great position to capitalise on any synergies,” Thor Stadil and Christian Stadil, owners of Thornico, jointly said in a statement.

Thorco Bulk, up and running on 1 August, will work alongside Thornico’s existing shipping business Thorco, which is focused on project-oriented business.

Thor Stadil said the expansion into the dry bulk segment seems natural and complements the existing business. “During the last years, the lines between the different shipping segments have been fading and especially bulk is a growing part of the business.

“We are very strong within project and as the segments overlap, it makes sense to expand the business to get closer to our clients and thus be able to serve them with a wider range of services.”

The two Thorco companies will be separate subsidiaries of Thornico, each running their businesses independently within bulk and project, though the sister firms will collaborate closely.