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

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Singapore Authorities Arrest Ships for Unpaid Debt

Two vessels have been arrested by Singapore authorities due to debts of around $4.7 million. The vessels were belonging to Italian shipping firm Rizzo Bottiglieri De Carlini Armatori SPA (RBD Armatori). The first vessel was the 109,000-deadweight tonne crude oil tanker, Adele Marina Rizzo, and the second the 178,000-tonne dry bulk carrier, Cavaliere Grazia Bottiglieri.

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