Image Credit: Q4-17 Presentation
Overview & Brief History
Torm Plc (TRMD) is a pure play product tanker shipping company headquartered in Denmark. Torm has a fully delivered fleet of 85 tankers, with an average age of nine years. Although Torm has a large modern fleet, they also own 17 vessels which are 15-19 years old. They are in the midst of a modernization and expansion initiative, which includes eight newbuilds delivering in 2018 and 2019.
Torm owns and operates product tankers, which are used for ocean-transport of refined petroleum products from refineries to