Torm orders LR2 tanker pair at GSI

Torm orders LR2 tanker pair at GSI

Danish product tanker giant Torm has returned to China’s Guangzhou Shipyard International to order a pair of scrubber-fitted LR2 newbuildings.

The vessels will be prepared for dual-fuel installation in future, and are scheduled for delivery in the fourth quarter of 2021.

Jacob Meldgaard, executive director of Torm, commented: “I am very pleased that TORM has utilized its long-term relationship with Guangzhou Shipyard International to enter into an agreement to purchase two LR2 newbuildings. These newbuildings will be financed through a flexible and attractive sale and leaseback structure including a repurchase option at the end of the lease period.”

Torm says it will have a total capex relating to the vessels of $95m, which includes costs related to its specific design requirements and scrubber installation.

Over a third of Torm’s fleet was built at GSI, with 29 of the company’s 80 vessels built at the Chinese yard.

Torm also confirmed the recent sale of 2004-built handy vessel Torm Loire for $9m. The vessel is now listed to Greece’s Salmar Shipping and renamed Atlanticos.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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