Torm could lose another 13 ships

If Torm's third bank decides to execute its option to sell the company's ships, Torm could risk losing another 13 ships before next summer.

Torm could be forced to divest another 13 ships before July 31st 2014 as part of the massive rescue plan arranged with the carrier's 14 banks in 2012. CEO Jacob Meldgaard tells ShippinWatch that it would be natural for the final option holder to look into the available alternatives.

"But we haven't received any notices related to the third option," says Jacob Meldgaard.

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