TORM sells one MR product tanker
News Release
TORM A/S
March 9, 2012
TORM has entered into an agreement to sell the MR product tanker TORM Lana. The parties have
agreed not to disclose the sales price. TORM Lana will be delivered to the new owner in either the
second half of March or the first half of April 2012. The transaction leads to a P&L loss of
approximately USD 15 million which will be recognized in the financial statements in the first quarter
of 2012. The agreement has a positive cash impact of approximately USD 4 million.
Following the sale, TORM’s owned fleet consists of 66.5 product tankers and two dry bulk vessels. In
addition, TORM has one product tanker on order.
Contact TORM A/S
Jacob Meldgaard, CEO, tel.: +45 3917 9200
Roland M. Andersen, CFO, tel.: +45 3917 9200
C. Søgaard-Christensen, IR, tel.: +45 3076 1288
Tuborg Havnevej 18
DK-2900 Hellerup, Denmark
Tel.: +45 3917 9200 / Fax: +45 3917 9393
www.torm.com
agreed not to disclose the sales price. TORM Lana will be delivered to the new owner in either the
second half of March or the first half of April 2012. The transaction leads to a P&L loss of
approximately USD 15 million which will be recognized in the financial statements in the first quarter
of 2012. The agreement has a positive cash impact of approximately USD 4 million.
Following the sale, TORM’s owned fleet consists of 66.5 product tankers and two dry bulk vessels. In
addition, TORM has one product tanker on order.
Contact TORM A/S
Jacob Meldgaard, CEO, tel.: +45 3917 9200
Roland M. Andersen, CFO, tel.: +45 3917 9200
C. Søgaard-Christensen, IR, tel.: +45 3076 1288
Tuborg Havnevej 18
DK-2900 Hellerup, Denmark
Tel.: +45 3917 9200 / Fax: +45 3917 9393
www.torm.com