Washington, D. C. 20549

                        Report of Foreign Private Issuer
                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934

                         For the month of November, 2003

                           A/S STEAMSHIP COMPANY TORM
                 (Translation of registrant's name into English)

                                   Marina Park
                                Sundkrogsgade 10
                              DK-2100 Copenhagen 0
                    (Address of principal executive offices)

     Indicate  by check mark  whether the  registrant  files or will file annual
reports under cover Form 20-F or Form 40-F.

                             Form 20-F  X           Form 40-F
                                      -----                  -----

     Indicate by check mark whether the registrant by furnishing the information
contained  in this  Form is  also  thereby  furnishing  the  information  to the
commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                                    Yes               No  X
                                       -----            -----


     Set forth  herein as Exhibit 1 is a copy of an  Announcement  No. 11 - 2003
issued by A/S STEAMSHIP COMPANY TORM to The Copenhagen Stock Exchange on October
27, 2003.

Exhibit 1


27 October 2003

TORM  maintains   expectations   for  2003  operating   result,   but  increases
expectations  for  2003  profit  after  tax,  to DKK  685-710  mill.  due to the
unrealized gain on the NORDEN investment.

o    As stated in TORM's first half 2003 results on 19 August 2003, expectations
     for the full year 2003 profits after tax were DKK 375-400 mill.,  including
     a  DKK  55  mill.   unrealized   gain  on  the   Company's   investment  in
     Dampskibsselskabet `NORDEN' A/S.

o    As  expected,  freight  rates in the  product  tanker  segment  have fallen
     towards the end of 3rd quarter 2003. Freight rates in the bulk segment have
     increased substantially, but the effect has been countered by hedging which
     elapses in the final months of 2003. As a  consequence,  TORM maintains its
     expectations  for 2003 profit after tax at DKK 320 - 345 mill.,  before any
     unrealized gain on the NORDEN investment.

o    TORM owns 727,803 NORDEN shares (33.35% excluding NORDEN's treasury shares)
     which is unchanged from 31 December 2002.

o    The  gain on the  NORDEN  shares  depends  on the  NORDEN  share  price  on
     Copenhagen  Stock  Exchange on 31 December  2003.  The share price as of 24
     October 2003 was DKK 870 per share resulting in a current total  unrealized
     gain in 2003 of DKK 364 mill.  Hence the 2003 profit before tax is expected
     to be DKK  685-710  mill.  after tax subject to the end year share price of

o    The underlying  assumptions  for the forecast will be commented  further in
     the nine month 2003 report, which will be released on 21 November 2003.

A/S Dampskibsselskabet TORM
Contact person:    Klaus Kjaerulff, CEO (tel.: +45 39 17 92 00)
                   Klaus Nyborg, CFO (tel.: +45 39 17 92 00)


This release contains  forward-looking  statements as the term is defined in the
US Private Securities Litigation Reform Act of 1995.  Forward-looking statements
provide  current  expectations  or  forecast  of  events.  Such  forward-looking
statements are subject to risks, uncertainties and inaccurate assumptions, which
may cause results to differ materially from expectations.

Factors that may affect future results include  statements  regarding:  Spot and
TCE rates in the near and long term,  operating  days,  tanker and bulker supply
and demand,  supply and demand for oil and refined products,  expectations about
the  Company's  future  capital  requirements  and  capital  expenditures,   the
Company's  growth strategy and how it is implemented,  the number of partner and
the number of vessels the partners have in the pools,  environmental  changes in
regulation, cost savings and other benefits.

Risks and  uncertainties are further described in reports filed by TORM with the
US Securities and Exchange Commission (SEC),  including the Company's form 20-F.
Please also refer to the section "Managing Risk and Exposure" in the 2002 annual

TORM is under no duty to update any of the forward-looking statements or to
conform such statements to actual results, unless required by law.


     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.

                           A/S STEAMSHIP COMPANY TORM

Dated: November 3, 2003                    By:  /s/ Klaus Nyborg
                                                Klaus Nyborg
                                                Chief Financial Officer

03810.0001 #439946