Torm is snapping up eight LR2 newbuilds in joint venture push

Copenhagen-based shipowner and operator of product tankers Torm is continuing its remarkable buying spree by snapping up more tankers.

The product tanker giant Torm has expanded its fleet portfolio with agreements for eight LR2 newbuildings – to be held through a 50/50 joint venture structure – whilst it secured options for an additional two MR newbuildings.

Pricing and delivery dates for the eight LR2 newbuildings have been left undisclosed.

The 2026 second and third quarter stood out as the most active period, with Torm buying six MR resale vessels during the second quarter, ordering six MR newbuildings during the third quarter, and exercising options for an additional two MR newbuildings.

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