Torm: Bank agreement limits our options

The restructuring agreement reduces Torm's freedom, as purchasing new ships, for instance, is no longer an option. As a result, the shipping company is focusing on other initiatives to improve the foundations of the company, Torm's chairman tells ShippingWatch.

Photo: APM

Even though the banks' commitment to Torm has served as a safety net for the struggling shipping company, the restructuring agreement comes with a dark side as well, says Flemming Ipsen to ShippingWatch following the Torm general assembly on Thursday:

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