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TORM exits bulk activities following the sale of two Panamax vessels

TORM has entered into an agreement with an unrelated third party to sell the two Panamax bulk vessels TORM Anholt and TORM Bornholm (both built in 2004).

The vessels are expected to be delivered to the new owner during October and November 2015. The sale is in line with TORM’s strategy to exit the bulk activities and focus on scale and operational platform in the product tanker segment.

TORM’s other bulk activities cover one chartered-in vessel which will be redelivered to the owner in the beginning of October 2015, and TORM will thus fully exit all bulk activities following the sale of TORM Anholt and TORM Bornholm.

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

 

Source: TORM

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