Torm expects another extension of bank agreement

Danish shipping company Torm expects the company’s banks to extend the agreement of deferred installments and covenant standstill that expired yesterday, says the shipping company, which expects this to happen “shortly.”

Photo: Rederiforeningen

Torm announced Friday that the shipping company expects the banks to - again - renew the agreement that expired yesterday, May 31st. Furthermore, the company says it expects this renewal to happen “shortly.”

The last extension was granted on May 11th. According to industry sources, a two week extension is a probable outcome.

Torm CEO: We have performed better than the market

Torm sells its share of joint venture company 

More from ShippingWatch

MPC upgrades 2022 guidance after strong first half

MPC Container Ships reports continued advancement in Q2, raising guidance for its operating result to almost half a billion dollars. High rates will continue for several quarters yet, the company expects.

Related articles

Latest news

See all jobs