TORM said that its strong capital structure has allowed the company to expand its fleet with the addition of two new fuel-efficient and high-specification MR resale vessels. The two 50,000 dwt vessels are currently under construction at the Korean yard Hyundai Mipo and will be delivered to TORM later this quarter.
TORM already has 12 Hyundai Mipo vessels in the fleet and has good technical and commercial experience with these vessels.
TORM has already bought a total of six MR vessels for a total consideration of USD 185m during the third quarter of 2017. TORM has further newbuilding options for ten product tankers.
”With these two MR resales delivering in Q3 2017, we have acquired a total of six new high-quality product tankers over the last few weeks. We believe that asset prices are at a cyclical low and that our purchase prices are attractive. Therefore, the timing is right for growing and renewing our fleet,” Executive Director Jacob Meldgaard stated
