Torm's fleet market value down
TORM will in its Form 20-F for 2010 to The US Securities and Exchange Commission publish the market value of the fleet as of 31 December 2010, the Company's press release said.
Based on brokers' valuations, TORM's fleet including the order book had a market value of USD 2,563 million as of 31 December 2010. This is USD 482 million less than book value.
This does not give rise to a change in TORM’s book values, which are in accordance with IFRS
Copenhagen-headquarterd TORM was founded in 1889. Currenlty, Torm is one of the world’s leading carriers of refined oil products, such as gasoline, jet fuel, naphtha and diesel oil. The Company is also a significant player in the dry bulk market. Torm's fleet comprises approximately 130 product tankers with deadweight ranging from 37,000 to 110,000 tons.
Based on brokers' valuations, TORM's fleet including the order book had a market value of USD 2,563 million as of 31 December 2010. This is USD 482 million less than book value.
This does not give rise to a change in TORM’s book values, which are in accordance with IFRS
Copenhagen-headquarterd TORM was founded in 1889. Currenlty, Torm is one of the world’s leading carriers of refined oil products, such as gasoline, jet fuel, naphtha and diesel oil. The Company is also a significant player in the dry bulk market. Torm's fleet comprises approximately 130 product tankers with deadweight ranging from 37,000 to 110,000 tons.
