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Tanker rates need to improve before Torm launches IPO

Torm CEO Jacob Meldgaard has not shelved the IPO plans even though the carrier suffered a big deficit of USD 142 million for the year after a fleet impairment of USD 185 million. But the tanker rates will need to improve and oil stockpiles go down before a listing becomes relevant, he tells ShippingWatch.

2017 does not as such look like the year for Torm to pursue an IPO in New York, judging by the current market developments in product tanker and the expectations for demand for oil products and the supply of vessels.

Disclosing guidance can be a hindrance to an IPO"

Jacob Meldgaard, CEO, Torm

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