Oaktree Capital prepares to swoop on Torm quintet

Oaktree is poised to win five Torm medium-range (MR) tankers being held for sale in a $135m deal

8 March 2013 0:00 GMT Updated 8 March 2013 0:00 GMT

By Joe Brady Stamford joe.brady@tradewindsnews.com

California-based private-equity powerhouse Oaktree Capital is once again flexing its shipping muscles as it prepares to swoop on five medium-range (MR) products tankers being held for sale by Torm of Denmark.

TradeWinds understands that Oaktree is the mystery buyer negotiating a deal to acquire the Chinese-built units: the 52,000-dwt Torm Alice, Torm Aslaug and Torm Almena (all built 2010), and Torm Agnes and Torm Amalie (built 2011).

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