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.
BY KATRINE GRØNVALD RAUN
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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