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CONSOLIDATED CASH FLOW STATEMENT - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOW FROM OPERATING ACTIVITIES      
Net profit/(loss) for the year $ 2,407 $ (142,491) $ 125,983
Adjustments:      
Reversal of profit from sale of vessels (Note 23) (2,762)    
Reversal of depreciation (Note 7) 114,451 122,215 67,327
Reversal of impairment loss on tangible and intangible assets (Note 6, 7, 8) 3,572 185,000  
Reversal of share of profit/(loss) from joint ventures (3) (176) (202)
Reversal of financial income (Note 9) (4,255) (2,814) (992)
Reversal of financial expenses (Note 9) 40,601 37,333 16,926
Reversal of tax expenses (Note 12) 777 760 1,041
Reversal of other non-cash movements (Note 24) 3,696 (7,114) (874)
Dividends received from joint ventures   188 200
Interest received and realized exchange gains 1,641 2,735 624
Interest paid and realized exchange losses (36,698) (31,385) (12,364)
Income taxes paid (586) (1,430) (584)
Change in bunkers, receivables and payables, etc. (Note 24) (12,996) 8,322 16,870
Net cash flow from operating activities 109,845 171,143 213,955
CASH FLOW FROM INVESTING ACTIVITIES      
Investment in tangible fixed assets (145,112) (119,408) (253,964)
Cash from business combination     77,544
Sale of tangible fixed assets (Note 23) 31,382   17,640
Net cash flow from investing activities (113,730) (119,408) (158,780)
CASH FLOW FROM FINANCING ACTIVITIES      
Borrowing, mortgage debt 175,377 49,256 93,100
Borrowing, sale and leaseback transactions 30,195    
Repayment/redemption, mortgage debt (125,487) (142,740) (29,214)
Repayment/redemption, finance lease liabilities (16,724) (3,410)  
Dividend paid (1,240) (25,000)  
Acquisition of outstanding shares in TORM A/S   (19,241)  
Shareholders' contribution     14,040
Transaction costs share issue     (2,723)
Purchase/disposal of treasury shares   (2,887) (176)
Net cash flow from financing activities 62,121 (144,022) 75,027
Net cash flow from operating, investing and financing activities 58,236 (92,287) 130,202
Cash and cash equivalents as of 1 January 75,971 168,258 38,056
Cash and cash equivalents as of 31 December $ 134,207 $ 75,971 $ 168,258