Torm stocks finance three new MR-ships

Torm stocks finance three new MR-ships

04-04-2018 15:00:00

Danish shipping company Torm have decided to take advantage of their stock options and spend 93 million dollars on three new MR ships, which are to be build in the Chinese shipyard Guangzhou. The ships will be delivered n 2019 and 2020, and were purchased with the 100 million dollars the company received during a stock mission in January, the company has stated in a press release.

”We are exited to expand our fleet with three new MR ships. The ships are set at an attractive price considering the current market, and we therefore believe that this is the right time to secure fuel saving tonnage, which comply to the new rules revolving bilge water regulations and are ready for IMO’s sulfur emission limit rules” Says Jacob Meldgaard, CEO of Torm.

By taking advantage of their stock options, Torm continues to upgrade their fleet, which since 2017 has increased in size with the purchase of nine MR ships in total and two LR1 ships for a total value of 352 million dollars.

In connection with the purchase, Torm has received financial support of close to 63 million dollars from ABN AMRO.

Source: Torm / Maritime Denmark

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