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 January, 2004

                           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 below is the text of  Announcement  No. 1 - 2004 issued
by A/S STEAMSHIP  COMPANY TORM to The  Copenhagen  Stock  Exchange on January 6,


6 January 2004

TORM - Expectations for 2003 and 2004 results

     o    TORM expects 2003 net profit in the region of DKK 1,050-1,065 mill.

     o    This consists of net profit of app. DKK 370-385 mill.  from TORM's own
          activities  plus  an  unrealized  gain  of DKK  681  mill.  on  TORM's
          shareholding in Dampskibsselskabet "NORDEN" A/S.

     o    The expectations are higher than the previously announced forecast for
          2003 net profit of DKK 320-345 mill. from TORM's own  activities,  cf.
          announcement no. 13 - 2003, dated 21 November 2003.

     o    2003 net profit is preliminary and unaudited.

     o    For 2004 TORM expects net profit from TORM's own activities which will
          be better than 2003 and  minimum  DKK 500 mill.  - before any gains or
          losses on the  NORDEN  share-holding.  A  substantial  part of the net
          profit is expected to be generated by TORM's bulk division.

A/S Dampskibsselskabet TORM

Contact persons: Klaus Kjaerulff, CEO (tel.: +45 39 17 92 00)
                 Klaus Nyborg, CFO (tel.: +45 39 17 92 00)

Matters discussed in this report may constitute forward-looking  statements. The
Private   Securities   Litigation  Reform  Act  of  1995  provides  safe  harbor
protections for  forward-looking  statements in order to encourage  companies to
provide prospective information about their business. Forward-looking statements
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. Torm desires to take advantage of
the safe harbor  provisions of the Private  Securities  Litigation Reform Act of
1995 and is including  this  cautionary  statement in connection  with this safe
harbor legislation. This report and any other written or oral statements made by
us or on our behalf may include  forward-looking  statements,  which reflect our
current views with respect to future events and financial performance. The words
"believe," "expect,"  "anticipate," "intend," "estimate," "forecast," "project,"
"plan,"  "potential,"  "will," "may," "should," and similar expressions identify
forward-looking statements.

The   forward-looking   statements   in  this  report  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 we believe 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,  we cannot  assure you that we will  achieve or  accomplish  these
expectations, beliefs or projections.

In  addition  to these  assumptions  and  matters  discussed  elsewhere  herein,
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, general market conditions, including
fluctuations  in charterhire  rates and vessel values,  changes in demand in the
shipping market,  including the effect of changes in OPEC's petroleum production
levels  and  worldwide  oil  consumption  and  storage,  changes  in  regulatory
requirements  affecting vessel operating including  requirements for double hull
tankers,  changes in the Torm's  operating  expenses,  including  bunker prices,
dry-docking and insurance costs,  changes in governmental  rules and regulations
or actions taken by regulatory authorities,  potential liability from pending or
future  litigation,  general 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 (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: January 12, 2004                By: /s/ Klaus Nyborg
                                       Klaus Nyborg
                                       Chief Financial Officer

03810.0001 #455138