Torm is tuning its acquisition radar with the backing of its largest cash pile since the boom years almost a decade ago.

The company is also waiting for the products tanker market to turn before pressing ahead with its US listing having seen the election of Donald Trump spur a rise in New York initial public offerings.

Torm strengthened its balance sheet with fresh loans last year and has since generated further capital with the sale-and-leaseback of two vessels.

“We