Their LR2 Pool joint venture said in a statement that the agreement would end from 1 October, with Greek company Sanmar Shipping also exiting the arrangement.

The pool is listed as having 28 ships, with Maersk operating 17, including two controlled by Fuyo Kaiun of Japan. Torm has 10, with Sanmar contributing the 100,000-dwt Sanmar Sonnet (built 1997).

Christian Ingerslev, CCO of Maersk Tankers, said: "As part of Maersk Tankers' strategy to focus purely on the product markets, we also wish to take full control over our investments in the segments we are engaged in.

“Our