Torm aims to take delivery of 3 tankers -CFO
Danish shipping company Torm aims to take delivery of three product tankers it has on order with a Chinese yard and not sell them it has done with two bulk carriers, its chief financial officer said on Friday, Reuters reports. Torm earlier on Friday announced that it had agreed to sell two bulk vessels on order at a Chinese yard and would book a fourth-quarter loss on the sale but the transaction would free up cash going forward.
"We plan to take delivery of the three MR product tankers," Chief Financial Officer Roland Andersen told Reuters.
He said that Torm chose to sell the two bulk vessels because the outlook for the bulk shipping market was "not very positive" for the next few years, and because it wanted to free up cash, but the outlook for the product tanker market was better.
"We plan to take delivery of the three MR product tankers," Chief Financial Officer Roland Andersen told Reuters.
He said that Torm chose to sell the two bulk vessels because the outlook for the bulk shipping market was "not very positive" for the next few years, and because it wanted to free up cash, but the outlook for the product tanker market was better.