TORM has entered into an agreement to sell the Panamax dry bulk vessel TORM Rotna (built in 2001). The vessel has been sold for a total consideration of USD 29 million with a profit of USD 9 million.

The vessel is expected to be delivered in the first quarter of 2010.
The profit will be realised in the financial statements at the time of
delivery. The sale of the vessel does not change the forecast for 2009
as previously announced by TORM.

Following the sale of the vessel, TORM’s owned fleet consists of 64
product tankers and three dry bulk vessels. In addition, TORM has 11
product tankers and four dry bulk vessels on order.

About TORM

TORM is one of the world’s leading carriers of refined oil products as
well as a significant participant in the dry bulk market. The Company
runs a fleet of approximately 140 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 NASDAQ OMX (Copenhagen:TORM) and on NASDAQ in New York
(Nasdaq:TRMD).

Source: TORM

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