TORM Exits Dry Bulk Market

Danish shipping company TORM is gearing up to fully exit the slumping dry bulk shipping market after agreeing to sell its last two bulkers to an unnamed buyer, and to return one chartered-in vessel to its owner in early October.

The two Panamax bulk vessels – TORM Anholt and TORM Bornholm – were both built in 2004, and  are expected to be delivered to the new owner during October and November 2015.

TORM says that the sale is in line with the company’s strategy to exit the bulk activities and focus on scale and operational platform in the product tanker segment.

The company says that the transaction does not impact its guidance, and TORM maintains its expectations for 2015 of a positive EBITDA in the range of USD 190-230 million, and a profit before tax in the range of USD 115-155 million.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >