TORM
TypePublic (Nasdaq Copenhagen: TORM,Nasdaq: TRMD)
IndustryShipping
Founded1889
FounderDitlev Torm
Headquarters
Copenhagen
,
Denmark
Key people
Jacob Meldgaard CEO,
ProductsTankers
Revenue819 million USD (2007)
205 million USD (2007)
792 million USD (2007) [1]
SubsidiariesOMI Corporation (With Teekay Corporation)
Websitehttp://www.torm.com/

TORM based in Copenhagen, Denmark, is a shipping company that owns and operates product tankers. The company's product tankers carry refined oil products such as gasoline, jet fuel, naphtha and diesel oil.

History

Torm was founded by Ditlev Torm and Christian Schmiegelow in 1889.[2] The company was listed on the Copenhagen Stock Exchange in 1905. Today, TORM is listed on Nasdaq Copenhagen and NASDAQ in New York.

Operations

The company was formerly composed of tanker and bulk carrier divisions with product tanker activity accounting for the majority of the business. The last two bulk carriers were divested in 2015.

TORM is one of the leading tanker carriers of clean oil products such as gasoline, jet fuel, naphtha and diesel oil and other clean products.

The company operates approximately 80 vessels.[3]

On 8 June 2007, A/S Dampskibsselskabet TORM (TORM) announced that TORM and TeekayCorporation (TEEKAY) had completed the acquisition of OMI Corporation (OMI), whereby OMI became a jointly owned subsidiary of TORM and TEEKAY. TORM will consequently with effect from 1 August 2007 take over 24 product tankers from OMI, leaving TORM's fleet at 85 vessels excluding new builds. TORM will also take over OMI's technical operations in India and a part of OMI's organisation in the US.

References

  1. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 10 February 2012. Retrieved 18 March 2008.{{cite web}}: CS1 maint: archived copy as title (link)
  2. ↑ "www.torm.com History". Archived from the original on 10 February 2012. Retrieved 2 August 2010.
  3. ↑ www.torm.com Fleet

Further reading


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