Torm books profit, reports strongest market in "more than a decade"

Tanker carrier Torm has turned a loss around to a profit in the year’s first quarter. The war in Ukraine and sanctions against Russia have boosted rates and brought about ”the strongest for more than a decade,” says CEO Jacob Meldgaard.

Photo: ShippingWatch/Søren Pico

Danish tanker shipping company Torm bags a profit for the first quarter of 2022, reporting a significant strengthening of the product tanker market, with sanctions against Russia having boosted rates significantly.

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