Torm snaps up pair of resale MR tankers

Danish owner Tom has acquired a pair of resale 50,000 dwt MR tankers currently under construction at South Korea’s Hyundai Mipo.

The two vessels are scheduled for delivery before the end of September and add to four other MR vessels acquired by Torm this year. The six vessels have cost a total of $185m.

Jacob Meldgaard, executive director of Torm, commented: “I am pleased that Torm’s strong capital structure allows us to act when we see attractive opportunities to grow the fleet. With these two MR resales delivering in Q3 2017, we have acquired a total of six new high-quality product tankers over the last few weeks. We believe that asset prices are at a cyclical low and that our purchase prices are attractive. Therefore, the timing is right for growing and renewing our fleet.”

Torm also has a further ten product tanker newbuilding options available.

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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