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Torm Cancels New Oil-Product Tanker for $2 Million Loss

March 16 (Bloomberg) -- Torm A/S, an operator of oil tankers and commodity carriers, canceled an order for a new oil-product tanker at a loss of $2 million, the Hellerup, Denmark-based company said.

The cancellation means the company has no more vessels on order, Roland M. Andersen, chief financial officer, said in a statement today. The tanker was scheduled for delivery in the second quarter of 2014. Torm’s owned fleet consists of 66 product tankers and two dry bulk vessels, it said.

To contact the reporter on this story: Rob Sheridan in London at rsheridan6@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net

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