Torm is patiently waiting for growth opportunities after building up a war chest during the past year.
Fresh loans, sale-and-leaseback deals and cash from operations have all contributed to upwards of $260m in firepower.
Executive Director of Torm Jacob Meldgaard says the company had cash and undrawn credit facilities of around $405m at the end of the first quarter. Its capital expenditure requirements run to $139m on its fully-funded newbuilding orderbook.
