Torm Sells Product Tankers to Oaktree

As part of TORM’s 2012 Restructuring Agreement, Oaktree exercised its option rights for repayment of a related debt from TORM, leading to a sale of ten MR and three LR2 product tankers.

2014.03.07 - Torm Sells Product Tankers to Oaktree

[Read more…]

Pirate Attack Drowned by Overflowing Ballast Water

According to Fairplay, Denmark’s TORM crew onboard the tanker Torm Gertrud used a novel method to repel a pirate attack off Nigeria over the weekend. Jakob Risom, press officer at TORM reported that the crew overflowed the ballast system meaning that water was poured over the side of the vessel.

[Read more…]