UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D. C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE
13A-16 OR 15D-16 UNDER THE SECURITIES
EXCHANGE ACT OF 1934
For the
month February 2010
Commission File Number: 000-49650
TORM
A/S
(Translation
of registrant's name into English)
Tuborg
Havnevej 18
DK-2900
Hellerup
Denmark
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form 20-F
[x] Form 40-F
[ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): [ ].
Note:
Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K
if submitted solely to provide an attached annual report to security
holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): [ ].
Note:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K
if submitted to furnish a report or other document that the registrant foreign
private issuer must furnish and make public under the laws of the jurisdiction
in which the registrant is incorporated, domiciled or legally organized (the
registrant's "home country"), or under the rules of the home country exchange on
which the registrant's securities are traded, as long as the report or other
document is not a press release, is not required to be and has not been
distributed to the registrant's security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or other Commission
filing on EDGAR.
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Attached as Exhibit 99.1 is a copy of Announcement No. 1 - 2010
issued by TORM A/S on February 1, 2010.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
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TORM
A/S
(registrant)
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Dated:
February 1, 2010
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By:
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/s/ Mikael
Skov
Name:
Mikael Skov
Title: Chief
Executive Officer
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SK 03810
0001 1068295
Exhibit
99.1
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ANNOUNCEMENT
NO 1 – 2010
1
February 2010
TORM
enters into a Chinese financing agreement for six of the Company's MR
newbuildings
TORM
has entered into a financing agreement for six newbuildings to be
delivered between 2010 and 2012. The vessels are all in the MR class, i.e.
of a size of approximately 52,000 dwt.
The financing agreement, which amounts to USD 170
million, has been concluded with The Export-Import Bank of China and runs
for eight years. It is part of the letter of intent that TORM concluded
with The Export-Import Bank of China in the summer of 2009 on a total
financing facility of USD 500 million. The main conditions of the current
agreement are in
line with the Company's existing loan
agreements.
The
financing agreement was confirmed at a signing ceremony today at TORM's
headquarters in Hellerup. On this occasion the Chairman and President of
The Export-Import Bank of China as well as the Chinese ambassador to
Denmark were present.
In
December 2009, TORM entered into a similar financing agreement for another
six MR newbuildings for the amount of USD 167 million (announcement
no. 18 - 2009).
"We
are very pleased that TORM over the past two months has secured financing
for 12 MR newbuildings for a total of USD 337 million. TORM has always had
close relations with its banks, and this financing agreement supports this
and strengthens TORM's position in a continued challenging market," CFO
Roland M. Andersen says.
As of
31 December 2009, the remaining investments in TORM's newbuilding
programme amounted to USD 455 million. With the recent agreement TORM's
unutilized loan facilities and cash total USD 700
million.
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Contact:
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Mikael
Skov, CEO, tel.: +45 39 17 92 00
Roland
M. Andersen, CFO, tel.: +45 39 17 92 00
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About
TORM
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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 (ticker: TORM) and on NASDAQ in New York (ticker:
TRMD). For further information, please visit www.torm.com.
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ANNOUNCEMENT
NO 1 – 2010
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1
FEBRUARY 2010
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TORM
A/S – TORM ENTERS INTO A CHINESE FINANCING AGREEMENT FOR SIX OF THE
COMPANY'S MR NEWBUILDINGS
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1/2
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Safe
Harbor Forward Looking Statements
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Matters
discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect our current views with respect to
future events and financial performance and may include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements, which are
other than statements of historical facts. The forward-looking statements
in this release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without limitation,
Management's examination of historical operating trends, data contained in
our records and other data available from third parties. Although TORM
believes that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are beyond
our control, TORM cannot assure you that it will achieve or accomplish
these expectations, beliefs or projections.
Important
factors that, in our view, could cause actual results to differ materially
from those discussed in the forward looking statements include the
strength of world economies and currencies, changes in charter hire rates
and vessel values, changes in demand for "tonne miles" of oil carried by
oil tankers, the effect of changes in OPEC's petroleum production levels
and worldwide oil consumption and storage, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled
dry-docking, changes in TORM's operating expenses, including bunker
prices, dry-docking and insurance costs, changes in governmental rules and
regulations including requirements for double hull tankers or actions
taken by regulatory authorities, potential liability from pending or
future litigation, domestic and international political conditions,
potential disruption of shipping routes due to accidents and political
events or acts by terrorists. Risks and uncertainties are further
described in reports filed by TORM with the US Securities and Exchange
Commission, including the TORM Annual Report on Form 20-F and its reports
on Form 6-K.
Forward
looking statements are based on management's current evaluation, and TORM
is only under obligation to update and change the listed expectations to
the extent required by law.
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ANNOUNCEMENT
NO 1 – 2010
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1
FEBRUARY 2010
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TORM
A/S – TORM ENTERS INTO A CHINESE FINANCING AGREEMENT FOR SIX OF THE
COMPANY'S MR NEWBUILDINGS
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2/2
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