Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Delivery of these vessels is expected in Q3 and Q4
of 2024. The purchase price
comprises $238 million in cash and the issuance of approximately 2.65 million
shares. The purchase price is subject to adjustments based on TORM’s share
price development and the vessels’ delivery schedules.
The vessels, built between 2014 and 2015 at the
Tier 1-Korean yard Hyundai Mipo Dockyard, include six that have been fitted
with scrubbers. The cash component of
this transaction will be financed through traditional bank financing.
Additionally, TORM has
sold a 2006-built MR tanker for delivery in Q3 2024, securing a cash
consideration of $23.3 million.
“We are pleased to
once more announce a partially share-based transaction to acquire vessels. Since 2021, TORM has utilized partially
share-based transactions to expand the fleet, even before the product tankers
market took off. This model highlights the strong trust the sellers have in our
One TORM platform and their firm belief in market fundamentals,” said Jacob
Meldgaard, Executive Director and CEO.
TORM is one of the world’s leading carriers of
refined oil products, operating a fleet of approximately 90 product tanker
vessels.
TORM’s shares are
listed on Nasdaq in Copenhagen and on Nasdaq in New York.
