Strong Net Profit
TORM achieved a net profit of US$63 million for the first quarter of 2025, demonstrating strong and sustainable results compared to the elevated levels a year ago.
Successful Vessel Divestment
TORM successfully divested several older vessels, including three 20-year-old MR vessels and one 17-year-old LR2 vessel, highlighting the quality and maintenance standards of its fleet.
Stable Freight Rates
Fleet-wide freight rates remained consistent with the levels seen in the fourth quarter of 2024, supporting solid earnings and reflecting strong underlying fundamentals.
Dividend Declaration
The Board declared a dividend of US$0.40 per share, showing the company's commitment to returning excess liquidity while maintaining financial strength.
Strong Fleet Management
TORM achieved average TCE rates close to US$27,000 per day, with LR2s at US$34,000 per day, reflecting strong fleet management and operational leverage.