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Third Quarter Report 2010

Fleet developments

During the third quarter, TORM took delivery of two MR newbuildings, TORM Aslaug and TORM Agnete. At the end of the quarter, TORM's fleet of owned vessels comprised 68 tankers and two bulk carriers. In addition, TORM had 27 tankers and 11 bulk carriers on time charter. Another 26 tankers were either in pools or under commercial management.

   
  Owned vessels
  30 Jun 10 Addition Disposal 30 Sep 10
LR2 / Aframax 1) 12.5 -- -- 12.5
LR1 / Panamax 2) 7.5 -- -- 7.5
MR 35.0 2.0 -- 37.0
SR 11.0 -- -- 11.0
Product tankers 66.0 2.0 -- 68.0
Panamax dry bulk 2.0 -- -- 2.0
Total 68.0 2.0 -- 70.0
1) Includes a 50% stake in TORM Marina (treated as JV)
2) Includes a 50% stake in TORM Ugland (treated as JV)

Planned fleet changes

No vessels were contracted in the third quarter of 2010, and at the end of the quarter the order book thus comprised seven MR vessels and four Kamsarmax vessels. Capex relating to the order book amounted to USD 310 million.

   
  Newbuildings to be delivered
  2010 2011 2012 2013  
  Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Total
LR2 / Aframax -- -- -- -- -- -- -- -- -- -- --
LR1 / Panamax -- -- -- -- -- -- -- -- -- -- --
MR 1.0 2.0 -- 1.0 1.0 -- 1.0 1.0 -- -- 7.0
SR -- -- -- -- -- -- -- -- -- -- --
Product tankers 1.0 2.0 -- 1.0 1.0 -- 1.0 1.0 -- -- 7.0
Kamsarmax dry bulk -- 2.0 -- -- -- -- -- -- 1.0 1.0 4.0
Total -- 4.0 -- 1.0 1.0 -- 1.0 1.0 1.0 1.0 11.0

In late October 2010, TORM took delivery of the MR vessel TORM Almena from the Chinese shipyard GSI Guangzhou.

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