Torm open to consolidation after profits jump
The company sold seven ‘vintage’ vessels built between 1997 and 2002 for a consideration of $66m, $10m of which was received in the second quarter of 2020
Danish company Torm is looking to replace its vessels when the time is right as part of its fleet renewal strategy. With the freight market coming off the peaks earlier in the year, asset prices should follow, according to the company’s executive director Jacob Meldgaard
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