Nasdaq-listed Torm said on Monday it agreed to acquire eight MR product tankers from Team Tankers — a move that takes Team Tankers one step further towards ultimately being sold.
Torm said it would spend $82.5m and issue 5.97m shares to finance the deal, which will boost its fleet size to 83 vessels, after Team Tankers delivers the units in the second and third quarters of this year.
