Torm in negotiations with investors

SHIPPING: Torm has announced, that it is in negotiations with two separate groups of international recognized investors who will inject USD 100-200 million in equity and cash initiatives.

“Torm is pleased that the close cooperation with the banks and other stakeholders has generated results and that two international, recognized groups of investors have as part of the capital raising process submitted specific, conditional proposals to Torm to inject USD 100-200 million in equity and cash initiatives. A very important step has been taken, and the risk of an in-court solution in Denmark or anywhere else will be eliminated if and when the conditions in these proposals have been fulfilled”, says Chairman of the Board N. E. Nielsen.

According to Torm, the negotiations will involve a certain decrease of Torm’s existing share capital, while, at the same time, granting the existing shareholders the opportunity to subscribe for new shares. Other stakeholders, e.g. banks and time charter partners, may also be offered the opportunity to become shareholders.

The new group of investors will subsequently have a significant shareholding in Torm. The final ownership structure is to be determined as part of the detailed negotiations.

There are two separate groups of investors, each with its business model now being reviewed by the Company and the investors in question.

Secondly, Torm’s standstill agreement with all its banks expired on 15 March 2012, however the close cooperation between the Company and the banks continues. The structure of the proposals available from the investors is that the banks are to grant TORM a standstill period, but that the banks are to expect to receive full and satisfactory settlement of their outstanding loans to the Company.

Thirdly, Torm has implemented a significant reduction of costs and has now planned further cash and cost improving initiatives over the coming three years.

Fourthly, Torm has discontinued its newbuilding program and, as a result, there are no new vessels to be financed.

Fifthly, Torm has, as part of its long-term cooperation with the owners of the chartered-in tonnage, obtained statements from these owners making both a short-term and a long-term solution possible, but it has to be finally negotiated and agreed.

Together with the potential investors, Torm will finalize the contractual basis as soon as possible in order for it to be presented to the shareholders of the Company.

Source: Torm / maritimedanmark.dk

Relateret indhold

25.07.2024Maritimedanmark.dk

Hafnia Nile skal tømmes for last

24.07.2024Maritimedanmark.dk

Brand på Maersk Frankfurt slukket

31.05.2024Maritimedanmark.dk

Panamakanalen nærmer sig normal drift

30.05.2024Maritimedanmark.dk

Fra Norden til Maersk Tankers

14.05.2024Maritimedanmark.dk

Ny Limfjordsforbindelse en underskudsforretning

23.04.2024Maritimedanmark.dk

Havnearbejdere blokerer skib på grund af manglende overenskomst

03.04.2024Caverion Danmark A/S

Sponseret

Caverion og Assemblin fusionerer og skaber gigant

29.03.2024Maritimedanmark.dk

Cadeler vinder ny kontrakt med milliard-potentiale

Jobmarked

Se alle

Småøernes Færgeselskaber

Navigatør (Afløser) til Færgen Bitten Clausen

Er du en erfaren navigatør, der gerne vil stoppe på langfart eller holde en pause fra udmønstringerne og vil du stadig fortsætte som navigatør men gerne være hjemme hver aften? Det kan også være at du gerne vil sejle lidt færge i dine hjemmeperioder? Eller allerede er gået i land men mangler lidt duften af hav? Så er dette måske noget for dig!

Område

Syddanmark

Ansøgningsfrist

14.09.2024

MARPRO Search & Selection

Area Sales Manager - Retrofit market

Are you a professional relationship builder with solid experience in technical sales in the maritime industry? Do you aspire to work in an environment that make vessels a greener and safer place to work?

Område

Nordjylland

Ansøgningsfrist

Snarest muligt

Søfartsstyrelsen

Kontorchef til Sikre Farvande

Trives du i et fagligt stærkt miljø med mange udfordringer? Og har du mod på at lede en effektiv driftsorganisation? Så er du måske vores nye kontorchef for Sikre Farvande.

Område

Sjælland

Ansøgningsfrist

04.08.2024

DanPilot

DanPilot søger en datatekniker-elev med speciale i programmering

Har du lyst til at få din uddannelse hos DanPilot, hvor vi er i gang med en digitaliseringsrejse?

Område

Syddanmark

Ansøgningsfrist

06.08.2024

DanPilot

Disponenter til Danmarks største lodsfirma søges

Har du erfaring indenfor spedition eller kendskab til mandskabs- eller materialedisponering – og trives du i en travl såvel som omskiftelig hverdag, hvor boldene bliver kastet højt i vejret og skal gribes igen? Så er du måske DanPilot’s nye disponent.

Område

Syddanmark

Ansøgningsfrist

30.08.2024

Grenaa-Anholt Færgefart

Grenaa-Anholt Færgefart søger én Befaren Skibsassistent til fast stilling med ansættelses snarest muligt

Du vil komme til at indgå i vores faste team af medarbejdere på M/F Anholt, som dagligt betjener færgens kunder samt fragter gods til og fra øen i Kattegat.

Område

Midtjylland

Ansøgningsfrist

Snarest muligt

Sail Event Aarhus

Skipper til M/S Helene

Sail Event Aarhus ApS søger en skipper til sejladser med turbåden M/S Helene.

Område

Midtjylland

Ansøgningsfrist

Snarest muligt

Skoleskibet Danmark

Kaptajn på Skoleskibet DANMARK

Et helt unikt og spændende job Skoleskibet DANMARK er et smukt sejlskib fra 1933 og en moderne maritim uddannelsesinstitution. Skoleskibet har også en repræsentativ rolle som en sejlende ambassade, for Det Blå Danmark. Skoleskibet DANMARK har to kaptajner, hvoraf denne ene nu har valgt at gå i land, hvorfor denne spændende og helt specielle stilling er ledig til besættelse i efteråret 2024.

Område

Hele Danmark

Ansøgningsfrist

11.08.2024

Saga Shipping A/S

Saga Shipping – søger personale til vores fartøjer

Er Skagen noget for dig…. Tag udfordringen op…

Område

Nordjylland

Ansøgningsfrist

Snarest muligt

Saga Shipping A/S

Shipping Medarbejder til Skagen

Saga Shipping er en del af Wrist Ship Supply, en af verdens største skibshandler, indenfor den globale shipping industri. Vi tilbyder en bred vifte af service ydelser til den globale shippingindustri – ikke 2 dage er ens !.

Område

Nordjylland

Ansøgningsfrist

Snarest muligt

Bliv opdateret med maritimedanmark.dk

Tilmeld dig nyhedsbrevet fra den maritime branche. Vi leverer nyhedsoverblikket og fagligheden, gode jobtilbud og faglige events. Hver dag,

Se flere temaer

Events

Se alle
RelyOn Nutec
Kursus
STCW - Advanced Fire Fighting (afholdes løbende)

At the end of the course the participant shall be able to use the principles for on-site management of available resources of personnel and material and shall be able to plan and exercise fire drills onboard a vessel.

Dato

30.05.2024

Tid

08:30

Sted

Uglviggårdsvej 3, Esbjerg Ø, 6705, Denmark

Marstal Navigationsskole
Kursus
Genopfriskning af Søsikkerhedskursus - Basic Safety Training – STCW-A-AI/1-1

Hvis det er ved at være 5 år siden, du fik dit kursus i Søsikkerhed, så kan du nu få det genopfrisket.

Dato

22.08.2024

Tid

09:00

Sted

Marstal Navigationsskole Ellenet 10, 5960 Marstal

RelyOn Nutec
Kursus
STCW -Proficiency in Survival Craft and Rescue Boats other than Fast Rescue Boats (afholdes løbende)

After completion of the course, the delegate must meet the qualification requirements in accordance with the STCW Code Table A-VI/2-1 Target Group: Persons to be included as the ships operating crew who must operate liferafts, lifeboats and man-over-board boats. Course Contents: Operation and construction of: - Liferafts - Lifeboats - Man-over-board boats - Life saving appliances Life-saving first aid, haemorrhage, shock and hypothermia.

Dato

16.09.2024

Tid

20:30

Sted

Uglviggårdsvej 3, Esbjerg Ø, 6705, Denmark

RelyOn Nutec
Kursus
STCW - Combined Boat Training Basic (afholdes løbende)

To give the delegates knowledge and skills needed to safely crew survival vessels. After completion of the course, the delegate will meet the qualification requirements in accordance with the STCW Code Table A-VI/2-1 and Table A-VI/2-2

Dato

16.09.2024

Tid

20:30

Sted

Uglviggårdsvej 3, Esbjerg Ø, 6705, Denmark

RelyOn Nutec
Kursus
STCW - Fire Prevention and Fire Fighting Refresh (afholdes løbende)

To refresh previous gained knowledge obtained in STCW VI/1-2 basic safety training Course Contents: Limitation of fire hazards, Maintenance of emergency contingency, Behavior in situations involving fire, Extinguishing fire.

Dato

16.09.2024

Tid

20:30

Sted

Uglviggårdsvej 3, Esbjerg Ø, 6705, Denmark

RelyOn Nutec
Kursus
STCW - Advance Fire Fighting Refresh (afholdes løbende)

To refresh previous gained knowledge obtained in STCW advanced fire fighting certficate. Course Contents: - Special fire conditions - Management functions and principles - Extinguishing techniques - Emergency Contingency

Dato

16.09.2024

Tid

20:30

Sted

Uglviggårdsvej 3, Esbjerg Ø, 6705, Denmark