TORM
A/S
(registrant)
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Dated:
June 9, 2009
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By:
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/s/
Mikael Skov
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Name:
Mikael Skov
Title: Chief
Executive Officer
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ANNOUNCEMENT
NO. 9 – 2009
9
June 2009
Sale
of one bulk carrier
TORM
has entered into an agreement to sell the Panamax bulk carrier TORM Tina
(built in 2001). The vessel has been sold for a total consideration of USD
30 million with a profit of USD 11.5 million. The vessel is expected to be
delivered in July 2009.
TORM
maintains the pre-tax profit forecast for 2009 of USD 100 – 140 million
incl. sale of vessels as stated on 19 May 2009 (announcement no.
8/2009).
Following
the sale of the vessel, TORM's owned fleet consists of 61 product tankers
and four bulk carriers. In addition, TORM has 14 product tankers and four
bulk carriers on order.
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Contact:
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Mikael
Skov, CEO, tel.: +45 39 17 92 00
Roland
M. Andersen, CFO, tel.: +45 39 17 92
00
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About
TORM
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TORM
is one of the world's leading carriers of refined oil products as well as
being a significant participant in the dry bulk market. The Company
operates a combined fleet of more than 130 modern vessels, principally
through a pooling cooperation with other respected shipping companies who
share TORM's commitment to safety, environmental responsibility and
customer service.
TORM
was founded in 1889. The Company conducts business worldwide and is
headquartered in Copenhagen, Denmark. TORM’s shares are listed on the
Copenhagen Stock Exchange (ticker TORM) as well as on the NASDAQ (ticker
TRMD). For further information, please visit www.torm.com.
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Safe
Harbor
Forward
Looking
Statements
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Matters
discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect our current views with
respect to future events and financial performance and may include
statements concerning plans, objectives, goals, strategies, future events
or performance, and underlying assumptions and other statements, which are
other than statements of historical facts. The forward-looking statements
in this release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without limitation,
Management’s examination of historical operating trends, data contained in
our records and other data available from third parties. Although TORM
believes that these assumptions were reasonable when made,
because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to
predict and are beyond our control, TORM cannot assure you that
it will achieve or accomplish these expectations, beliefs or
projections.
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Important
factors that, in our view, could cause actual results to differ materially
from those discussed in the forward looking statements include the
strength of world economies and currencies, changes in charter hire rates
and vessel values, changes in demand for “tonne miles” of oil carried by
oil tankers, the effect of changes in OPEC’s petroleum production levels
and worldwide oil consumption and storage, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled
dry-docking, changes in TORM’s operating expenses, including bunker
prices, dry-docking and insurance costs, changes in governmental rules and
regulations including requirements for double hull tankers or actions
taken by regulatory authorities, potential liability from pending or
future litigation, domestic and international political conditions,
potential disruption of shipping routes due to accidents and political
events or acts by terrorists. Risks and uncertainties are further
described in reports filed by TORM with the US Securities and Exchange
Commission, including the TORM Annual Report on Form 20-F and its reports
on Form 6-K.
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Forward
looking statements are based on management’s current evaluation, and TORM
is only under obligation to update and change the listed expectations to
the extent required by law.
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ANNOUNCEMENT
NO. 9 – 2009
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9
JUNE 2009
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TORM A/S - SALE OF ONE BULK CARRIER
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