TORM purchases eight and sells one second-hand MR vessel

On 15 July 2024, TORM has entered into an agreement to acquire eight second-hand MR vessels that are expected to be delivered during Q3 2024 and Q4 2024 for a total consideration of USD 340m, with a cash consideration of USD 238m and the issuance of approximately 2.65 million shares, according to the company's release. The purchase price is subject to certain adjustments that will be impacted by TORM’s share price development and the vessels’ delivery schedules.
 
The vessels have all been built at Korean yard Hyundai Mipo Dockyard in 2014-2015, and six of the vessels have been fitted with scrubbers. The cash element of this transaction will be financed through traditional bank financing.
 
TORM has sold one 2006-built MR tanker for delivery in Q3 2024 for a cash consideration of USD 23.3m.