Thursday, March 30, 2023

Oaktree Bails on TORM Stake Sale

Asset management giant Oaktree Capital Management has abruptly terminated its sale of 5 million Class A common shares in TORM plc (Nasdaq: TRMD or TRMD A), a

March 30, 2023
Total Views: 2028

Monday, March 1, 2021

TORM Scoops Up 8 MR Product Tankers from TEAM Tankers

TORM Tankers has announced plans to acquire eight medium-range product tankers from TEAM Tankers for approximately $148 in cash and shares. The eight vessels

March 1, 2021
Total Views: 1349

Wednesday, November 15, 2017
torm tanker
Maritime News

TORM Files for US Nasdaq Listing

Tanker company TORM has announced its plan to list its shares on the NASDAQ Stock Market in New York, which TORM expects to complete before the end of 2017.

November 15, 2017
Total Views: 60

Monday, November 30, 2015
Maritime News

TORM Orders Four LR2 Tankers for $200 Million

Denmark-based tanker owner TORM says it has ordered four newbuild LR2 tankers from Guangzhou Shipyard International (GSI) in China for $200 million, with

November 30, 2015
Total Views: 15

Wednesday, September 23, 2015
Maritime News

Torm Exits Sluggish Dry Bulk Market

  By Ole Mikkelsen COPENHAGEN, Sept 23 (Reuters) – Danish shipping company Torm said on Wednesday it would withdraw from the lacklustre dry bulk

September 23, 2015
Total Views: 9

Tuesday, June 23, 2015
Maritime News

TORM Tanker Picks Up 200 Migrants Off Libya

  A TORM product tanker on Sunday assisted Italian authorities in a rescue operation to save migrants from two unseaworthy boats off the Libyan coast.

June 23, 2015
Total Views: 63

Wednesday, May 13, 2015

Tanker Owner TORM Posts First Profit in Five Years

Danish product tanker owner TORM has posted its first quarterly net profit in five years helped by lower oil prices and higher refinery margins. In the first

May 13, 2015
Total Views: 4

Monday, October 27, 2014

Torm’s Restructuring Plan Progresses

After losing 13 product tankers to Oaktree Capital Management earlier this year, Danish shipowner Torm has entered into an agreement with its 40+ lenders and

October 27, 2014
Total Views: 7

Monday, June 30, 2014

Torm Tanker Evades Pirate Attack in Gulf of Aden

A product tanker owned by Copenhagen-based Torm successfully fended off a group of pirates in the Gulf of Aden, the company said in a statement over the

June 30, 2014
Total Views: 32

Wednesday, May 14, 2014

Depressed Tanker Rates Spell More Trouble for Torm

COPENHAGEN, May 14 (Reuters) – Debt-stricken Danish shipping company Torm said it would not be able to comply with its financial covenants on minimum

May 14, 2014
Total Views: 10

Friday, March 7, 2014

Torm Loses 13 Product Tankers to Oaktree

As part of Torm’s 2012 restructuring agreement, three bank facilities were given certain specific option rights up until 31 July 2014 that could trigger

March 7, 2014
Total Views: 708

Saturday, January 18, 2014

International Refiners Rush To Ship Gasoil, Diesel To Freezing U.S.

Refiners in Asia, Europe and Russia are shipping around half a million tonnes of heating oil and diesel to the United States this month after bitterly cold

January 18, 2014
Total Views: 3

Thursday, August 15, 2013
torm tankers

Torm Sees Tanker Demand Benefiting From Indian Refining Growth

Aug. 15 (Bloomberg) — Demand for tankers to haul fuels including gasoline will benefit for several years as refinery expansions in India and the Persian

August 15, 2013
Total Views: 2

Wednesday, April 24, 2013

Restructuring Complete, Company Stable…Torm CFO Resigns

In early 2012, Torm was carrying $1.9 billion of debt while lacking means to repay this debt.  A Chapter 11 filing and the painful process of restructuring

April 24, 2013
Total Views: 3

Monday, April 22, 2013
Press Releases

TORM Sells Five MR Product Tankers to Oaktree

TORM has entered into an agreement to sell five MR product tankers to a company controlled by Oaktree Capital Management. The sale is a consequence of the

April 22, 2013
Total Views: 5

Tuesday, October 2, 2012

TORM Shares Rise 22 Percent Following Restructuring Agreement

Following a restructuring agreement signed today between the debt-crushed shipowner Torm, their banks, and their time-charter partners, Torm’s stock has

October 2, 2012
Total Views: 6

Thursday, July 19, 2012

Crushed By Debt, Torm Responds to Latest Claims By Danish Media

COPENHAGEN–Financially-troubled Danish shipper Torm A/S (TORM.KO) said Thursday it is still in talks to seal a long-term debt refinancing deal that

July 19, 2012
Total Views: 0

Monday, April 23, 2012
Torm Tankers

TORM Shareholders Left With Pennies, Banks Gain 92.5% After Capital Injection

COPENHAGEN (Dow Jones)–Financially strapped Danish shipping company Torm A/S (TORM.KO) said Monday a planned liquidity injection would result in its

April 23, 2012
Total Views: 14

Monday, April 2, 2012

TORM’s Capital Injection Talks Collapse, Restructuring Imminent [REPORT]

STOCKHOLM (Dow Jones)–Negotiations on a capital injection to save troubled Danish tanker and bulk vessel operator Torm A/S (TORM.KO) have collapsed,

April 2, 2012
Total Views: 1

Tuesday, March 27, 2012
torm tankers

Torm Negotiates with Investor Groups to Stave Off Bankruptcy

(Dow Jones) Danish tanker and bulk vessel operator Torm A/S (TORM.KO) said Tuesday it is in final talks with two international groups of investors for a

March 27, 2012
Total Views: 9