Stable Operating Environment
TORM reported a stable operating environment with a TCE of USD 208 million, consistent with previous quarters. This stability translated into a net profit of USD 59 million and a dividend distribution of USD 0.40 per share.
Fleet Optimization Strategy
TORM advanced its fleet optimization strategy by divesting 1 LR2 vessel and 2 MR vessels, aligning with the approach of phasing out older tonnage to maintain a modern and competitive fleet.
Strong Market Positioning
The company entered Q3 with strong momentum, supported by firming rates across vessel segments and a positive market sentiment. TORM raised its full-year guidance to reflect a stronger earnings outlook.
Improved Financial Flexibility
TORM secured commitments for up to USD 857 million on attractive refinancing terms, enhancing liquidity and financial flexibility, with new financing running into 2030.