Denmark’s Torm is buying eight Croatian-built MR tankers from Team Tankers, paying for the ships with $82.5m in cash and the issuance of 5.97m shares. The transaction takes the Torm fleet to 83 vessels.
The ships are the the Team Amorina, Team Allegro, Team Corrido, Team Cavatina, Team Leader, Team Discoverer, Team Voyager and Team Adventurer.
The vessels – all built between 2007 and 2012 – will deliver in Q2 and Q3. Based on broker valuations, the market value of the acquired vessels is assessed at $148m, Torm stated in a release.