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Torm CEO comfortable with new order in spite of big orderbook

Torm is just one of several shipowners to switch its attention toward the major product tanker vessels, which now account for a big share of the global orderbook. But CEO Jacob Meldgaard is not worried about this, he tells ShippingWatch.

"We are fully aware that the current trend in the product tanker newbuilding market is turning toward bigger ships. But we view the market as one combined entity," says Torm CEO Jacob Meldgaard in a comment on the ordering activity in the product tanker sector.

On Monday, Torm issued a corporate statement informing that the carrier had returned to the newbuilding market, after being absent for seven years, with an order for four LR2 vessels for a total USD 200 million, and with an option for six additional vessels in the LR1, LR2 or MR segments, the latter of which constitutes the core of Torm's existing fleet.

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