World News
TORM Purchases Four Fuel-Efficient MR Vessels
A/S Dampskibsselskabet TORM (TORM) today announced that it has signed an agreement to purchase four fuel-efficient Medium Range (MR) resale vessels from Guangzhou Shipyard International (GSI), including the option for four more.
The vessels, which are slated for delivery in 2019, will add to the 20 GSI vessels in TORM’s current fleet, including four LR2 vessels under construction.
TORM says Danish Ship Finance has committed to finance the vessels with 65 percent of the purchase price through a tranche set to run for seven years from the time of delivery.
"I see it as a demonstration of TORM’s strategic and financial flexibility that we are able to obtain attractive funding from an existing lender, Danish Ship Finance, in such a short time span," said Christian Søgaard-Christensen, TORM’s CFO.
As Ship & Bunker reported in June, TORM, along with J. Lauritzen A/S (J. Lauritzen), VPS Vessel Performance Solutions, Aalborg University, and Force Technology, have recently been engaging in a working group intended to develop a vessel performance decision support tool to support increased energy efficient operations.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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