TORM to buy seven LR1 vessels for $233m

Capt. John

Danish shipping company TORM has signed two separate cash deals worth around $233m for the acquisition of seven LR1 tanker vessels.

The firm struck a deal to purchase three LR1 vessels on 25 January.

The company had reached another deal to buy four vessels earlier in the month.

The vessels were constructed between 2011 and 2013 at shipyards in South Korea and China.

The deals will expand the company’s fleet size to 85 vessels on a fully delivered basis.

TORM expects to receive all the ships by the...

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