Torm: quarterly loss. Image Credit / S&B
Product tanker company Torm has said that it has installed 51 out of 57 planned scrubbers for its fleet with the rest to be installed by the first quarter of next year.
The figures are correct up to the end of 2021, the company said in its latest earnings statement.
The company posted a pre-tax loss of $8 million in the fourth quarter of last year.
“After a challenging year in the product tanker market, we saw a recovery towards the end of 2021,” Torm executive director Jacob Meldgaard said.
Looking ahead, Meldgaard said that although freight rates have improved the volatility present in the market “may be reinforced by the Russian invasion of Ukraine”.