Torm has announced that it has entered into a financing agreement for four 114,000dwt LR2 tanker newbuildings to be delivered in 2017 and 2018.
The financing agreement, for an amount of up to $115m, has been concluded with The Export-Import Bank of China over a term of twelve years.
Torm said the main conditions of the agreement are in line with the company’s existing loan agreements. “We are very pleased to continue the close cooperation with The Export-Import Bank of China,” said acting cfo Christian Søgaard-Christensen.
Torm ordered the quartet at Guangzhou Shipyard International (GSI) in November 2015 for a total price of around $200m.
