Torm orders LR2 tanker pair at GSI

Danish product tanker giant Torm has returned to China’s Guangzhou Shipyard International to order a pair of scrubber-fitted LR2 newbuildings.

The vessels will be prepared for dual-fuel installation in future, and are scheduled for delivery in the fourth quarter of 2021.

Jacob Meldgaard, executive director of Torm, commented: “I am very pleased that TORM has utilized its long-term relationship with Guangzhou Shipyard International to enter into an agreement to purchase two LR2 newbuildings. These newbuildings will be financed through a flexible and attractive sale and leaseback structure including a repurchase option at the end of the lease period.”

Torm says it will have a total capex relating to the vessels of $95m, which includes costs related to its specific design requirements and scrubber installation.

Over a third of Torm’s fleet was built at GSI, with 29 of the company’s 80 vessels built at the Chinese yard.

Torm also confirmed the recent sale of 2004-built handy vessel Torm Loire for $9m. The vessel is now listed to Greece’s Salmar Shipping and renamed Atlanticos.

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