ShippingWatch

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:

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs