ShippingWatch

Torm completes restructuring

Torm has completed its restructuring. This means among other things that the balance will be recapitalized through a significant reduction of the existing debt. A major profit is expected already this year.

It is not surprising but it is still great news for the carrier Torm. The company writes in a corporate statement Monday evening, that the planned restructuring has been completed.

"I am very pleased that Torm with this Restructuring regains its financial and strategic flexibility. The Restructuring and Torm’s strong operational performance provide a robust platform for the future as we set out for new horizons," says CEO Jacob Meldgaard in the statement.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs