Torm (TRMD) has released an update.
TORM is expanding its fleet with the purchase of eight second-hand MR vessels for USD 340 million, to be delivered in the second half of 2024, while also selling one older vessel for USD 23.3 million. This strategic move, involving a mix of cash and stock, underscores TORM’s confidence in the product tankers market and its commitment to growth. The company, a leading carrier of refined oil products, continues to leverage its One TORM platform and display strong market fundamentals.
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