28/03/2014at 12:25

Lenders seeping out of Torm

Nordea Finland recently sold off its commitment in heavily-indebted Torm, just as Danish Ship Finance exercised an option to sell loans in 13 of the carrier's ships. Now a major French bank has followed suit.

BY OLE ANDERSEN

Nordea Finland and Danish Ship Finance pulled out as lenders in Torm a few weeks ago, and now French BNP Paribas has sold its stake of USD 119 million in the carrier.

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Meldgaard: No new ships for Torm without new owners
Torm made USD 166 million deficit in 2013
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Danish Ship Finance forces Torm to sell 13 ships
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