The Danish shipping company Torm is once again significantly expanding its fleet with eight ships. Eight second-hand tankers were acquired for US$340m.
The company, which is listed on the stock exchanges in the USA and Copenhagen, is paying US$238m for the eight MR tankers, with the remainder of the price being paid in the form of 2.65 million shares.
The vessels were built at Hyundai Mipo Dockyard (HMD) between 2014 and 2015. Six of them are reportedly equipped with scrubbers. It is assumed that the Chinese company Sinokor is the seller, but this has not yet been officially confirmed.
Torm is constantly investing in its fleet
The purchase increases Torm‘s fleet size to 96 units. At the same time, the shipping company has disposed of an older ship (built in 2006) for US$23.3m.
In the course of 2023, the company had already purchased a total of nine LR2s, seven LR1s and seven MRs, including en bloc deals with Alterna Capital and ST Shipping. In 2024, one more LR2 has been added so far.
The Danish shipping company was founded in 1889. It is one of the world’s leading tanker shipping companies for the transportation of oil products.
