TORM COMPLETES LR1 POOL STRATEGY
News Release
TORM A/S
September 1, 2011
Hellerup, 1 September 2011 – TORM has now completed the Company’s LR1 pool strategy in
accordance with the overall business strategy “Changing Trim.”
TORM pioneered the formation of Pools in 1990, and the concept has been very successful for
years. The growth of TORM’s fleet and the need to be closer to our customers have however
necessitated a change of the pool operation. TORM will substitute pools with strategic partnerships
whenever relevant.
We have agreed with the remaining pool partner Reederei Nord to close the pool. TORM will then
operate a fleet of about 25 LR1 vessels. In total TORM operates about 120 tankers, whereof 68.5
are owned by TORM.
Four vessels will be redelivered to Reederei Nord by latest October 2011. TORM would like to use
this opportunity to thank its previous pool partners for many years of successful cooperation.
“It is a necessary decision for TORM to do this, and I would like to stress that we depart from the
pool as friends with the hope that we in the future, once again, can find mutual grounds for closer
cooperation,” says Tina Revsbech, Senior Vice President Tanker Division.
The new setup will secure a more cost efficient, transparent and uniform way to service our
customers. Going forward we will further develop our offering and continue to deliver outstanding
services tailored to individual clients’ needs.
For further information, please contact: Tina Revsbech, Senior Vice President Tanker Division
(mob. +45 2342 1117).
accordance with the overall business strategy “Changing Trim.”
TORM pioneered the formation of Pools in 1990, and the concept has been very successful for
years. The growth of TORM’s fleet and the need to be closer to our customers have however
necessitated a change of the pool operation. TORM will substitute pools with strategic partnerships
whenever relevant.
We have agreed with the remaining pool partner Reederei Nord to close the pool. TORM will then
operate a fleet of about 25 LR1 vessels. In total TORM operates about 120 tankers, whereof 68.5
are owned by TORM.
Four vessels will be redelivered to Reederei Nord by latest October 2011. TORM would like to use
this opportunity to thank its previous pool partners for many years of successful cooperation.
“It is a necessary decision for TORM to do this, and I would like to stress that we depart from the
pool as friends with the hope that we in the future, once again, can find mutual grounds for closer
cooperation,” says Tina Revsbech, Senior Vice President Tanker Division.
The new setup will secure a more cost efficient, transparent and uniform way to service our
customers. Going forward we will further develop our offering and continue to deliver outstanding
services tailored to individual clients’ needs.
For further information, please contact: Tina Revsbech, Senior Vice President Tanker Division
(mob. +45 2342 1117).