Danish product tanker giant Torm is adjusting its fleet expansion strategy, planning to grow its fleet by directly ordering new vessels.
According to shipping brokerage reports, Torm is reportedly set to place an order with Zhoushan Changhong International for 6+2 MR product tankers with a deadweight tonnage of 50,000 DWT each, at a unit price of approximately $46 million. The confirmed order for the first six vessels has a total value of approximately $276 million; if the two optional vessels are exercised, the total value of the eight newbuilds will increase to $368 million.
These new vessels will be equipped with exhaust gas cleaning systems (scrubbers), with delivery tentatively scheduled for 2029–2030. As of now, neither Torm—which is listed in Copenhagen and New York—nor Zhoushan Changhong International has publicly confirmed the contract, nor has Torm issued a corresponding stock exchange announcement.
If finalized, this order would mark a shift in Torm’s fleet expansion strategy: moving away from its recent focus on acquiring secondhand vessels and resales of newbuild contracts toward direct investment in new shipbuilding.
In May 2026, Torm announced the addition of eight MR product tankers to its fleet through a combination of resale and secondhand vessel acquisitions, comprising six resales and two secondhand vessels. The six resale vessels were reportedly originally owned by the Singapore-listed shipping company Yangzijiang Maritime and are scheduled for delivery from Chinese shipyards between 2027 and 2028. The two secondhand vessels were both built in 2015 and will be renamed “Torm Dehradun” and “Torm Dapitan” upon completion of the transactions.
In addition to acquiring new vessels, Torm is selling older vessels from its fleet; excluding the up to eight newbuilds from Zhoushan Changhong International, the company’s fleet size will rise to 103 vessels upon the completion of all transactions. Currently, the shipowner operates approximately 100 product tankers—spanning MR, LR1, and LR2 vessel types—with individual capacities ranging from 45,000 to 115,000 deadweight tonnes (DWT).
As for the shipbuilder, Zhoushan Changhong International is actively expanding its oil tanker construction business, bolstered by a large volume of container ship orders.
According to incomplete statistics, the shipyard’s current tanker orderbook includes six plus two LR2 product tankers for Polembros Shipping, one MR product tanker for Laskaridis Shipping, and six MR product tankers for Horizon Tankers, with the vast majority of orders placed by Greek shipowners.