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 of September 2008
Commission
File Number: 000-49650
A/S
STEAMSHIP COMPANY TORM
(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.
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 ]
If “Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): ________.
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Set forth
herein as Exhibit 1 is a copy of
Announcement No. 18 - 2008 issued by A/S STEAMSHIP COMPANY TORM to The
Copenhagen Stock Exchange on September 12, 2008.
Exhibit
1
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ANNOUNCEMENT
NO. 18 – 2008
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12
September 2008
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Executive
Vice President Jacob Meldgaard replaces Klaus Kjærulff as CEO of A/S
Dampskibsselskabet TORM
Klaus
Kjærulff (56) has decided to step down as CEO of TORM after 33 years with
the company, having served the last eight years as CEO. Klaus Kjærulff
will devote himself to functioning as Board member and other challenges
outside of TORM.
Klaus
Kjærulff will be replaced by Jacob Meldgaard, Executive Vice President of
the shipping company NORDEN A/S.
Originally
trained in shipping at A.P. Møller, forty-year old Jacob Meldgaard has
been employed with NORDEN for eleven years and has been in charge of the
company's dry cargo division in the last four years. Together with the
rest of the organisation, he has received outstanding results, and this
year, he was appointed Executive Vice President. In addition to having
specialised in shipping, Jacob Meldgaard holds a Bachelor of Commerce
degree in International Trade from the Copenhagen Business School and has
completed management programmes at INSEAD in France and at the Wharton
Business School in the USA.
Chairman
of the Board N. E. Nielsen says: “During some time I have discussed a
change in management with Klaus Kjærulff and I am pleased that we can now
announce the change.”
"Having
worked for TORM for 33 years, Klaus Kjærulff has done an excellent job and
has shown unique business acumen in building a successful company. When he
was appointed CEO in 2000, the shipping company ran a fleet of 21 vessels
and employed 225 people at its Copenhagen office. Today, TORM controls a
fleet in the excess of 130 vessels and its staff numbers more than 3,500
people worldwide. Every year since 2000, TORM has recorded record high
revenue and profit, thanks in great part to the excellent job performed by
Klaus Kjærulff and the rest of the organisation. Efforts continue towards
our ambition of further and significant growth, and we are constantly
seeking to achieve our long-term goals and ensure continuity. Having
planned this generational shift in good time will help us ensure such
continuity," says N. E. Nielsen
N.
E. Nielsen goes on to conclude: "I'm convinced that the new CEO together
with other members of TORM's management board, its executive staff and
skilled employees around the world will create a bright and exciting
future for TORM."
Klaus
Kjærulff, commenting on the generational shift, states: "I choose to leave
now that TORM is doing very well. The integration after the purchase of
OMI has finished successfully and we have just adjusted an upward
direction for the expectations of the company’s result to the best ever
for TORM. Having been in TORM for many years I find it obvious that new
strength is needed in the management to continue the company’s growth. I
am still young enough to be able to find new challenges outside of TORM
and the time is perfect for a change in management.” In the coming years,
Klaus Kjærulff will undertake special assignments and projects for
TORM.
In
the future TORM’s management will consist of Jacob Meldgaard (40) CEO,
Mikael Skov (45) COO and Roland M. Andersen (40)
CFO.
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Contact
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N.
E. Nielsen, Chairman of the Board of Directors: +45 2526 3343
Klaus
Kjærulff, CEO: +45 4010 8111
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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
being a significant participant in the dry bulk market. The Company
operates a combined fleet of more than 130 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
Copenhagen Stock Exchange (ticker TORM) as well as on the NASDAQ (ticker
TRMD). For further information, please visit www.torm.com.
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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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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.
A/S STEAMSHIP COMPANY
TORM
(registrant)
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Dated: September 17,
2008
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By:
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/s/
Klaus Kjærulff
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Name: Klaus
Kjærulff
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Title: Chief Executive
Officer
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SK 03810 0001
919224