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TORM sells one MR product tanker
9 March 2012
TORM has entered into an agreement to sell the MR product tanker TORM Lana. The parties have
agreed not to disclose the sales price. TORM Lana will be delivered to the new owner in either the
second half of March or the first half of April 2012. The transaction leads to a P&L loss of
approximately USD 15 million which will be recognized in the financial statements in the first quarter
of 2012. The agreement has a positive cash impact of approximately USD 4 million.
Following the sale, TORM’s owned fleet consists of 66.5 product tankers and two dry bulk vessels. In
addition, TORM has one product tanker on order.
About TORM
TORM is one of the world’s leading carriers of refined oil products as well as a significant player in the dry bulk market. The Company runs a
fleet of approximately 160 modern vessels in cooperation with other respected shipping companies sharing TORM’s commitment to safety,
environmental responsibility and customer service.
TORM was founded in 1889. The Company conducts business worldwide and is headquartered in Copenhagen, Denmark. TORM’s shares are
listed on NASDAQ OMX Copenhagen (ticker: TORM) and on NASDAQ in New York (ticker: TRMD). For further information, please visit
www.torm.com.
TORM, press release
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