TORM Expands Fleet Amid Tanker Market Rebound and Red Sea Disruptions

Danish operator TORM is strategically expanding its fleet to take advantage of the rebound in tanker markets, with a recent acquisition of eight second-hand MR vessels. The $340 million deal, financed through a mix of bank financing and shares, is part of TORM’s plan to grow its fleet to 96 vessels by 2024. CEO Jacob Meldgaard is pleased with the company’s strategic growth.

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DOF Group Acquires Maersk Supply Service for $1.1 Billion, Expands Fleet and Market Reach

Norway’s DOF Group has acquired Maersk Supply Service for $1.1 billion, solidifying its position in the offshore service sector. The deal includes 22 vessels and a 25 percent ownership by A.P. Moller Holdings. The merger will create a major integrated service provider for the energy industry, with plans to focus on offshore wind operations. Maersk Offshore Wind is set to launch by 2025.

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