Torm books profit for 2020 despite red fourth quarter

Product tanker carrier Torm records its second best result in five years with a profit of USD 90 million before tax despite a loss-making fourth quarter. The company buys eight tankers from Team Tankers

Photo: PR/Torm

The last quarter of the year ended in the red for Denmark-based product tanker carrier Torm, which had otherwise recorded four consecutive positive quarters up until then.

Overall, Torm booked a net-result of USD 90 million, largely due to high earnings achieved in the first half of 2020.

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