Torm Q2 2023 results

Announced quietly today (08/17)
Had to go find the details on the company website

  • Revenue of $384.3M
  • Net profit of $185.4M
  • Fleet avg TCE of $36,360 daily
  • Declared div of $1.50/sh

Torm Interim results for the first Six months of 2023 (

For a company with a majority MR2 fleet, that’s an impressive TCE for Q2 2023. Torm has provided data for Q3 to-date as $30,534 with 74% done. This will likely end up weaker than Q3 2022. But it should still be a decent qtr. One vessel sold in Q3 2023.

Happy with Q2 results and Q2 div payout. That said, depending on price developments, will likely trim Torm position and lower my cost basis.