Torm sets sights on growth during 'interesting year'

Danish product tanker owner Torm is on the hunt for secondhand acquisitions this year after seeing asset prices fall by a quarter during 2016.

Chief executive Jacob Meldgaard sees attractive opportunities in the S&P market amid a belief the long-term market equation is “really, really good”.

“We are positioning ourselves for 2017 to be a very interesting year, where you want to be cash rich and look at those opportunities,” Meldgaard told a Marine Money conference in London yesterday.

“We