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CONSOLIDATED CASH FLOW STATEMENT - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOW FROM OPERATING ACTIVITIES      
Net profit/(loss) for the year $ (34,779) $ 2,407 $ (142,491)
Adjustments:      
Reversal of profit from sale of vessels (752) (2,762)  
Reversal of depreciation (Note 6) 114,480 114,451 122,215
Reversal of impairment loss on tangible and intangible assets (Note 6,7,22) 3,249 3,572 185,000
Reversal of share of profit/(loss) from joint ventures (189) (3) (176)
Reversal of financial income (Note 8) (3,302) (4,255) (2,814)
Reversal of financial expenses (Note 8) 39,345 40,601 37,333
Reversal of tax expenses (Note 11) 1,558 777 760
Reversal of other non-cash movements (Note 23) 2,039 3,696 (7,114)
Dividends received from joint ventures 440   188
Interest received and realized exchange gains 2,720 1,641 2,735
Interest paid and realized exchange losses (39,792) (36,698) (31,385)
Income taxes paid (1,611) (586) (1,430)
Change in bunkers, receivables and payables, etc. (Note 23) (12,668) (12,996) 8,322
Net cash flow from operating activities 70,738 109,845 171,143
CASH FLOW FROM INVESTING ACTIVITIES      
Investment in tangible fixed assets (202,439) (145,112) (119,408)
Sale of tangible fixed assets (Note 22) 26,847 31,382  
Net cash flow from investing activities (175,592) (113,730) (119,408)
CASH FLOW FROM FINANCING ACTIVITIES      
Borrowing, mortgage debt 114,530 175,377 49,256
Borrowing, sale and leaseback transactions   30,195  
Repayment/redemption, mortgage debt (110,834) (125,487) (142,740)
Repayment/redemption, finance lease liabilities (2,899) (16,724) (3,410)
Dividend paid   (1,240) (25,000)
Acquisition of outstanding shares in TORM A/S     (19,241)
Capital increase 99,999    
Transaction costs share issue (2,788)    
Purchase/disposal of treasury shares     (2,887)
Change in restricted cash (2,014) 594 (1,588)
Net cash flow from financing activities 95,994 62,715 (145,610)
Net cash flow from operating, investing and financing activities (8,860) 58,830 (93,875)
Cash and cash equivalents as of 1 January 132,948 74,118 167,993
Cash and cash equivalents as of 31 December 124,088 132,948 74,118
Restricted cash as of 31 December 3,273 1,259 1,853
Cash and cash equivalents including restricted cash as of 31 December $ 127,361 $ 134,207 $ 75,971