Torm has been operating a restructuring agreement since November 2012 and is still working to secure a long term capital structure.
The shipowner said it had received a proposal on a “specific transaction” from the lenders and Oaktree.
“Torm’s board of directors has initiated discussions with the relevant stakeholders to evaluate the proposed deal and its potential implementation. At the current stage, it is not possible to predict the outcome of the evaluation or the time horizon for a potential deal,” Torm said.
Private Equity investor Oaktree has already bought 22 vessels from Torm, which has then placed which it has then placed under the technical and commercial control of the Danish shipowner.
Oaktree has been significantly in the dry bulk shipping space consolidating both OceanBulk and Excel Maritime under Star Bulk Carriers in the US. It is also involved in the restructuring of Eagle Bulk.
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