Torm has entered into an agreement to purchase eight 2007-2012 built MR product tanker vessels from Team Tankers Deep Sea for a total cash consideration of US$82.5 million and the issuance of 5.97 million shares.
The transaction will increase Torm's total fleet to 83 vessels on a fully delivered basis.
The vessels were all built at the Croatian shipyard Brodotrogir and have high technical specifications with six of the vessels having specialised cargo tank configurations and extended tank segregations (IMO Tier II), allowing for enhanced trading flexibility through chemical trading options, while still being able to work integrated in the existing One Torm operational platform.
The vessels are scheduled to be delivered during the second and third quarter of 2021. These include Team Amorina (pictured), Team Allegro, Team Corrido, Team Cavatina, Team Leader, Team Discoverer, Team Voyager, and Team Adventurer.