TRMD Profile
TORM plc (TRMD) is a Danish shipping company that operates a fleet of product tankers, oil tankers, and dry bulk carriers. The company was founded in 1889 and is headquartered in Copenhagen, Denmark. TORM has a global presence with offices in Houston, London, Manila, Singapore, and Mumbai. The company operates a fleet of more than 80 vessels, which are primarily used for transporting refined petroleum products, crude oil, and dry bulk commodities.
TORM's business is organized into two segments: Product Tankers and Dry Bulk Carriers. The Product Tankers segment is focused on the transportation of refined petroleum products, such as gasoline, diesel, and jet fuel. The Dry Bulk Carriers segment is focused on the transportation of commodities, such as coal, iron ore, and grain.
TORM's fleet includes vessels of various sizes, ranging from 35,000 to 110,000 deadweight tons. The company's vessels are equipped with advanced technologies, such as fuel-efficient engines, ballast water treatment systems, and digital systems for monitoring and optimizing vessel performance.
TORM's customers include oil majors, oil traders, refiners, and commodity traders. The company has long-term relationships with many of its customers, which provide a stable source of revenue. TORM also operates in the spot market, which allows it to take advantage of short-term market opportunities.
TORM is committed to sustainable shipping and has implemented various initiatives to reduce its environmental impact. The company has set a target to reduce its CO2 emissions by 40% by 2030 compared to 2008 levels. TORM is also a member of various industry organizations, such as the Clean Shipping Alliance 2020 and the Getting to Zero Coalition, which are working towards decarbonizing the shipping industry.
TORM is listed on the NASDAQ Copenhagen stock exchange under the ticker symbol TRMD. The company's largest shareholder is Oaktree Capital Management, L.P., which owns approximately 33% of the outstanding shares.
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