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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.

ShippingWatch has learned that Torm has acquired three product tankers in recent months, two of which are built in 2010 and the third from 2007.

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