Torm buys Okeanis LR2 trio

Denmark’s Torm is buying three 2015-built scrubber-fitted LR2 tankers Nissos Schinoussa, Nissos Heraclea and Nissos Therassia from Okeanis Eco Tankers for $120.8m.

The vessels are expected to be delivered during the remainder of Q2 and Q3 2021.

Torm said it has obtained commitment for the financing of two of the vessels from Danish Ship Finance for $60m.

The third vessel is expected to be financed through a sale and leaseback agreement with a Chinese financial institution for proceeds of $32.2m.

Torm expects to enter into two additional sale and leaseback transactions providing $24m in net liquidity, and has agreed on the key terms for the three sale and leaseback agreements.

In addition, Torm has recently sold its MR tanker Torm Carina to an undisclosed Chinese buyer, which should generate $6m in liquidity. The vessel should be delivered to the new owner this quarter.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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