Torm bags USD 107m profit after doubling TCE rates

Product tanker carrier Torm multiplies its second-quarter earnings after TCE rates have doubled compared to the same period last year.

Photo: Marine Traffic / Rasmus Hoffmann

Torm continues to profit from the product tanker upswing, landing a pre-tax result of USD 107m in the second quarter.

This result is ten times larger than the USD 10.4m the product tanker shipping company earned in the first quarter, and 50 times larger than in the same quarter last year, which saw the result come to USD 2.4m.

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