Dampskibsselskabet Torm

From Wikipedia, the free encyclopedia

Dampskibsselskabet TORM

Type	Public (OMX: TORM,NASDAQ: TRMD)
Founded	1889
Founder	Ditlev Torm
Headquarters	Copenhagen, Denmark
Key people	Klaus Kjaerulff CEO, Mikael Skov COO
Industry	Shipping
Products	Tankers, Bulk
Revenue	819 million USD (2007)
Operating income	205 million USD (2007)
Net income	792 million USD (2007) ^[1]
Subsidiaries	OMI Corporation (With Teekay Corporation)
Website	http://www.torm.dk/

A/S Dampskibsselskabet TORM or TORM , based in Copenhagen, Denmark, is a shipping company that owns and operates product tankers and bulk carriers. TORM's company's tankers carry refined oil products such as gasoline, jet fuel, naphtha and diesel oil. The company's dry bulk vessels carries commodies such as coal, iron ore and grain.

1 History
2 Operations
3 Members of the Board of Directors of TORM:
4 References
5 External links

[edit] History

Founded by Ditlev Torm in 1889, TORM is one of the world’s most respected names in international shipping. The company is composed of tanker and bulk carrier divisions, with product tanker activity accounting for the majority of the business.

[edit] Operations

TORM is the world’s premier tanker carrier of clean oil products such as gasoline, jet fuel, naphtha and diesel oil and a leading carrier of other clean products.

TORM’s bulk carrier division focuses mainly on the Panamax bulk carrier sector, carrying various bulk commodities, but principally grain, coal and iron ore. The division is also engaged in the Handysize bulk carrier segment.

The company operates approximately 115 vessels as of 2007,^[2] including some of the most modern and well-equipped ships afloat.

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 newbuildings. TORM will also take over OMI’stechnical operations in India and a part of OMI’s organisation in the US.