Danish product tanker owner Torm has been linked with a buying spree in the secondhand market for a series of LR1 tankers in deals worth a total of almost $240m.

The Copenhagen-based shipowner is said to have purchased seven ballast water treatment system-fitted ships built between 2011 and 2013 at yards in China and South Korea, according to Clarksons.

Torm is said to have purchased the 75,000-dwt, STX Shipbuilding-constructed Jo Pinari (built 2012) and Jo Provel (built 2013) and the 73,800-dwt, New Times-built Jo Redwood and Jo Rowan (both built 2013) for a price in the region of $140m en bloc from clients of Jo Shipping.