Analyst: Torm’s equity is still under water

The agreement with the banks and tonnage owners gives Torm some peace and quiet to work. But the shipping company still has too much debt compared to its revenue, and the market needs to either improve massively, or the shipping company needs to find a long term debt solution, says stock analyst Dan Togo, from Danish bank Handelsbanken.

Torm’s agreement with the banks and the owners of tonnage provides the company with peace to work, and it brings some security to customers working with Torm, but the company’s equity is still “under water.” But the important thing is that the company will survive, at least on the short term, says stock analyst Dan Togo, Handelsbanken.

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