Thorco CEO Henrik Ramskov will lead the combined company, whichwill boast around 90 ships.

Ramskovsaid in a statement: “At Thorco we have been growing very fast over the past 10years, but we have for some time been looking at making a quantum leap, andwith the opportunity to merge with Clipper Projects, we can make this leap.”

KristianMorch, CEO of the Clipper Group, says his company is happy to play a part in industryconsolidation.