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.