TORM sells off three bulk carriers

TORM sells off three bulk carriers    A/S Steamship Co. TORM said Friday it has entered into an agreement to sell the bulk carriers “TORM Marina” (built in 1990), “TORM Herdis” (1992) and “TORM Tekla” (1993).
   TORM is a shipping company specializing in the worldwide commercial operation of a fleet of tankers and bulk carriers. The company said that the vessels have been sold to three different buyers for about $63 million in total. Profits on the sales of the vessels amount to about $35 million before tax.
   'Our strategy is to dispose of older vessels as part of the planned fleet renewal in the bulk division, and to continue to grow and maintain a modern fleet of larger Panamax bulk vessels,' said Klaus Kjaerulff, TORM chief executive officer, in a statement.
   Following delivery of the three vessels, TORM’s owned fleet will comprise 30 product tankers and 5 dry bulk vessels.