Torm tempted to make more acquisitions in weak product tanker market

Despite rising prices for product tanker vessels, Torm is tempted to make new acquisitions and expand its fleet, which has now reached a historic level. "We're constantly on the lookout for attractive acquisition opportunities," says CEO of Torm to ShippingWatch.

Torm CEO Jacob Meldgaard is tempted by new ship acquisitions and consolidations if attractive opportunities present themselves | Photo: PR/Torm

by DAG HOLMSTAD

After pulling out the big checkbook to acquire 11 tanker vessels from competitors in the product tanker marked earlier this spring, Torm has developed a taste for acquiring more vessels.

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