The loss-making company confirmed lenders had agreed to extend its working capital fund by six months to 31 March next year.

Torm has asked that it be reduced from $100m to $50m at the same time.

CEO Jacob Meldgaard said: “The 100% consent level representing more than 40 lenders is a strong sign of the support to Torm and the efforts to recapitalise the company.

“The