Case... August 2008
torm shipping company Global headquarter
Why Denmark? "TORM is a Danish shipping company with global operations. There has never been a better time than the present to run a shipping company in Denmark. The Danish tonnage tax is financially attractive and the Danish International Ship Register (DIS) helps to ensure international competitiveness. But first and foremost it is the dynamic business environment which makes Denmark a focal point for international shipping, supported by a political will to achieve further growth. To us Denmark is the right place to run a global shipping company." Klaus KjĂŚrulf, President and CEO, TORM A/S
TORM is the second largest shipping company in Denmark and the World's largest transporter of refined oil products. Founded in 1889, TORM owns and operates more than 100 ships, both product tankers and bulk carriers, and was the first to introduce pooling, which has now become common practice in shipping.
CASE: TORM SHIPPING COMPANY - GLOBAL HEADQUARTER
The reasons for choosing Denmark: • • • • • •
Denmark has one of the world's strongest maritime clusters Denmark's framework conditions for shipping are among the world's best The Danish maritime administration ensures a fast and efficient service Active influence on global and regional regulations with focus on quality shipping Tradition for high education in the marine sector and a well qualified workforce Strong focus on maritime research and innovation
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TORM TORM has been among Denmark's fastest growing shipping companies in the last five years, and is the world leader in product tankers. In 1990, TORM introduced a pooling concept, where shipping companies made ships available for a single operator. This benefits both customers and shipping companies, since there is always a ship available in the right place. TORM operates three different product tanker pools, in the MR, LR1 and LR2 segments. The partners are among the world's most prestigious ship owners. The combined product tanker pool totals approx. 80 ships, of which TORM owns or charters about half. 14 new ships are on order for delivery during 2007 – 2009. The company also operates about 20 dry bulk carriers. TORM shares are listed on Copenhagen Stock Exchange and at Nasdaq in New York.
Denmark at a glance • World's Best Place to conduct business in a five year perspective (Economist Intelligence Unit 2007 & 2008) • Among top 5 on the world competitiveness overall scoreboard (IMD 2007) • No 3 in the world on flexible labour regulations (IMD 2007) • No 1 in the world on IT infrastructure according to the IDC Society Information Index 2008 • Highest worker motivation in the world (IMD 2007)) Whether your company considers to relocate, consolidate, set up new production facilities, is on the lookout for new innovation partners or other strategic business solutions in Europe, Invest in Denmark is a good place to begin. We provide customised information and services free of charge and in full confidentiality.
Invest in Denmark 2, Asiatisk Plads DK-1448 Copenhagen K Tel. +45 33 92 11 16 Fax +45 33 92 07 17