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Torm orders three MR tankers from GSI for $93m

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Danish shipowner Torm has taken up options on three MR product tanker newbuildings for $93m at Guangzhou Shipyard International (GSI).

The three newbuildings ordered at GSI are expected to be delivered 2019 and first quarter 2020. The vessels are fully funded through a $100m equity issue in January this year and a $63m financing commitment from KfW and ABN AMRO.

“The vessels are attractively priced when comparing to the current market, and we believe that now is an attractive time to secure new fuel-efficient tonnage that is compliant with the ballast water convention and ready for the IMO 2020 sulphur requirements," said Torm executive director Jacob Meldgaard.

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Torm has splashed out $352m since 2017 on nine MR and LR tankers, which are compliant with ballast water management rules and the 2020 0.5% sulphur cap for marine fuel.

 

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