A weaker than forecast products carrier market is set to drive Danish tanker owner Torm deeper into loss.

Torm has revised its forecast result for this year sharply down as expectations of a market recovery have not led translated into higher freight rates.

Jacob Meldgaard
The forecast is now for a loss in the range of $75m to $85m up from a previous forecast of a loss of $40m to $60m and a prediction early in the year that the loss could be as low as $15m.

“The