The new Torm projects USD 140 million profit in 2015

With the combined activities of Torm and Njord Luxco, equity fund Oaktree's company in the carrier, the tanker carrier projects a de-facto recovery of the result as early as 2015. But the average age of the fleet represents a challenge.

Torm projects a profit before taxes upwards of USD 140 million for the full year 2015, according to a prospectus issued by the carrier ahead of the extraordinary General Assembly scheduled for August 25th in Copenhagen, representing the final step in the completion of the corporate restructuring, and which will see a new board of directors taking over the company.

For the full year, Torm projects an operating profit (EBITDA) of USD 170-220 million.

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