The financial problems facing Danish shipowner Torm have moved up a gear with the company revising its forecast loss for the year to something in the range of $230m to $250m.

The predicted deficit has increased following the sale of two kamsarmax bulk carrier newbuilding contracts which will hit Torm’s profit and loss account to the tune of $41m.

The loss on the sale of the 83,000-dwt Tsuneishi Zhoushan newbuildings to an undisclosed buyer almost exactly matches the increase from a previous forecast of a loss in the $190m to $210m range so there is no change in Torm’s operational loss although financial pressures on the company remain acute.

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