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Danish Torm to sell two bulk carriers for EUR31.3m.

NORDIC BUSINESS REPORT-15 May 2009-Danish Torm to sell two bulk carriers for EUR31.3m(C)1994-2009 M2 COMMUNICATIONS LTD http://www.m2.com

Danish shipping company D/S Torm (CPH:TORM) has agreed to sell two Panamax bulk carriers for USD42.5m (EUR31.3m), as part of its fleet renewal strategy, ADP News said on 15 May 2009.

The group expects to book a capital gain of USD15.4m from the divestment.

The deal covers the Torm Martha and Torm Baltic vessels, which were built in 1997.

After the sale, Torm's fleet will include 61 product tankers and five dry bulk carriers.

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Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EUDE
Date:May 15, 2009
Words:114
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