TEAM has entered into an agreement to sell eight 2007-2012 built MR product tanker vessels to TORM for a total cash price of USD 82.5m and the issuance of 5.97 million TORM shares. The transaction will increase TORM’s total fleet to 83 vessels on fully delivered basis.
The vessels are all built at the Croatian shipyard Brodotrogir and have high technical specifications with six of the vessels having specialized cargo tank configurations and extended tank segregations (IMO 2), allowing for...