Torm Plc (TRMD) announced their Q1 2026 results on 05/13/26. Results included
- TCE revenue of $286M
- EBITDA of $201M
- Net Profit of $122M
- Declared div of 70c/sh
- A few vessels added to the fleet, and a few subtractions
Subsequent to end of Q1 2026, TRMD acquired 6 newbuild resales (delivery 2027 - 2028). The company also updated on Q2-to-date (57% done). The average across the fleet was $71,494 daily. That’s crazy for a fleet that is majority MR2s. FWIW, the MR2 rate is $73,485 daily. In a general market, low $20s is a good rate. If the MR2 rates breaks $30K daily, that is a really good qtr.