TORM purchases eight LR2 vessels
On 09 November 2023, TORM has entered into an agreement to acquire eight second-hand LR2 vessels that are expected to be delivered in late Q4 2023 and in Q1 2024 for a total consideration of USD 399m, with a cash consideration of USD 239m and the issuance of approximately 5.5 million shares (1). The purchase price is subject to certain adjustments that will be impacted by TORM’s share price development and the vessels’ delivery schedules. The vessels have all been built at the Tier 1-Korean yard Hyundai Samho Heavy Industries in 2010-2012 and have fuel-efficient eco vessel