Torm made USD 24 million deficit in the 2nd quarter

Torm finished the 2nd quarter with a positive operating result of USD 14 million and a USD 24 million deficit before taxes.

Tanker carrier Torm achieved a positive operating result of USD 14 million in the 2nd quarter 2014, and a deficit before taxes of USD 24 million, says the carrier in its 2nd quarter interim report.

“In the second quarter of 2014, Torm has continued to deliver competitive results and positive cash flow from operations after full interest payment even though the product tanker market was weaker than expected,” says CEO Jacob Meldgaard, and adds: “I am pleased that we have reached an agreement in principle to extend our working capital facility to support the ongoing efforts to recapitalize Torm.”

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