ShippingWatch

Torm's long path toward a profit

While Torm's Executive Board on the one hand is chasing new investors, CEO Jacob Meldgaard on the other hand is trying to make the shipping company achieve a profit that might attract new investors. But there is still a long way to go.

Photo: Thomas Tolstrup

Torm presents both good and bad news in the company's financial report, depending on where one stands. The 3rd quarter deficit fell in line with the shipping company's expectations, and the expected deficit for 2013 as a whole also seems somewhat unchanged. This is the part that deals with running the restructured tanker carrier.

Then there is the other of the two case files that take up space at CEO Jacob Meldgaard's office by the water in Hellerup's maritime cluster. This one deals with the Executive Board's efforts to find new investors interested in acquiring the shares that the company's old bank connections are currently holding as a result of the restructuring process last year.

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