ShippingWatch

Jacob Meldgaard: We need to do even better

Torm's first profit in five years was attributed significantly to the general boom in the tanker market. Meanwhile, the carrier was able to maintain a high TCE income. "We need to move on and we need to do even better," CEO Jacob Meldgaard tells ShippingWatch.

It has been a long time since Torm was last able to celebrate a profit on the bottom line of its financial report. But following a tanker market that has been rallying since September last year, due to the low oil and price and a sustained high TCE income, May 2015 became the month in which the executive management and employees at the carrier's headquarters in Copenhagen could finally breathe a sigh of relief.

But just for now. Because even though Torm's TCE earnings reached around USD 25,000 per day, and thus - according to ShippingWatch's sources - remained somewhat above the competitors' levels, this is just a signal that the carrier should do even better, explains CEO Jacob Meldgaard.

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