Torm in non-compliance with loan facilities

But with the commitment from the group of lenders that represent 61 percent of Torm's ship financing, this failure to comply with the terms is not expected to impact the process as long negotiations are ongoing, says the carrier.

BY TOMAS KRISTIANSEN

Torm has not achieved the milestones required by the banks in relation to an extension of the loan facility that provides the carrier with working capital. But Torm expects to find a solution, says the company in a statement.

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