Torm buys younger ships as part of fleet renewal

Oaktree-controlled carrier Torm, which will present its third-quarterly report on Wednesday, has launched a much-needed fleet renewal process by acquiring several vessels. One of the vessels was allegedly sold by Maersk Tankers.

Torm has initiated a much needed renewal of its aging fleet, a factor the carrier has itself highlighted as a significant challenge in relation to the restructuring of the product tanker carrier which now has US-based equity fund Oaktree as its controlling stakeholder.

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