Torm (TRMD) has released an update.
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TORM has reported robust interim results for Q2 2024, with a noteworthy growth in time charter equivalent earnings to USD 325.9 million, an adjusted EBITDA of USD 251.1 million, and a net profit of USD 194.2 million, reflecting strong market fundamentals and strategic fleet expansion. The company’s fleet performance was buoyed by firm market conditions, driven by rerouting due to Red Sea disruptions and geopolitical tensions, enabling TORM to promise significant dividends to shareholders. The company’s aggressive growth is underscored by the acquisition of new vessels and a substantial increase in market value and net asset value.
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