Torm sees highest earnings in a decade – but share has dropped 25 percent this year

Torm just delivered its best start in more than ten years, and the boom is expected to continue into the second quarter with a larger profit. Still, the shipping line's stock has dropped around 25 percent so far this year. CEO Jacob Meldgaard attributes the decline to general uncertainty in the global economy.

Photo: PR/Torm

It is not exactly evident from the stock market that product tanker is one of the few sectors in shipping to see the strongest market in years.

This applies not least to Torm, which has just delivered its best start in more than ten years, and which even has expectations for a better result in the second quarter.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

For Coca-Cola, chartering vessels is by no means a foreign concept

Coca-Cola made a splash when one of the company's execs recently informed that it had chartered three dry bulk vessels as a result of the strained supply chains. It's a frequently used method, the company tells ShippingWatch. Nike expects shortages of products in coming quarters.

Further reading

Related articles

Trial banner

Latest news

See all jobs