Thorco eyes IPO

Denmark's Thorco Shipping is plotting a big fleet expansion as it eyes an IPO.

The multipurpose (MPP) specialist expects to have 50% more vessels in the next few years.

It will also list in Copenhagen when market conditions improve, chairman Thor Stadil told Reuters.

Thorco was set up 11 years ago by the Stadil family and has a fleet of 105 ships.

In June last year it merged with compatriot Clipper Projects to build its market presence.

The owner wants to take over ships under the ownership of banks after other companies hit financial trouble.