Torm Plc - Company Profile
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Torm Plc (Torm) is a shipping company serving the oil and gas sector. It offers a range of transportation services through its affiliated companies. The company undertakes the transportation of refined oil products such as gasoline, jet fuel, naphtha, gas oil, and fuel oil through its product tankers. The company’s fleet includes a network of long-range 1 (LR1), long-range 2 (LR 2), mid-range (MR), and handy-size vessels. Torm's trade route includes Trans-Atlantic trade, Intra-Americas, Europe and the US to West Africa, Arabian Gulf, and India to Europe, Arabian Gulf, and Europe to the Far East, South Korea to California, and Intra-Asia. The company has operations in countries including the US, Singapore, Philippines, India, Norway, Denmark, Bermuda, and Mauritius among others. Torm is headquartered in London, Greater London, the UK.
Headquarters
United Kingdom
Address
Office 105, 20 St Dunstan's Hill, London, England, EC3R8HL
Website
www.torm.com/home/default.aspx
Telephone
44 20 37952794
No of Employees
533
Industry
Energy and Utilities
Ticker Symbol & Exchange
TRMD A (CPH)
Revenue (2022)
$1.5B
5.3%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
15.2%
(2022 vs 2021)
Market Cap*
$3.1B
Net Profit Margin (2022)
XYZ
9.4%
(2022 vs 2021)
* As of and is in US$
Torm Plc premium industry data and analytics
Products and Services
| Services |
|---|
| Product Tanker Services |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Contracts/Agreements | In November, the company entered into an agreement to acquire eight second-hand LR2 vessels. |
| 2023 | Contracts/Agreements | In March, the company entered into an agreement to acquire three 2013-built MR eco product tanker vessels for US$48.5 million. |
| 2023 | Asset Purchase | In January, the company acquired seven secondhand LR1 tankers for US$233 million. |
Competitor Comparison
| Key Parameters | Torm Plc | A.P. Moller - Maersk AS | Mitsui OSK Lines Ltd | Frontline Plc | Odfjell SE |
|---|---|---|---|---|---|
| Headquarters | United Kingdom | Denmark | Japan | Cyprus | Norway |
| City | London | Koebenhavn K | Minato-Ku | Limassol | Bergen |
| State/Province | England | - | Tokyo | - | - |
| No. of Employees | 533 | 105,909 | 8,748 | 78 | 2,303 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Christopher Helmut Boehringer | Chairman | Executive Board | 2015 | 52 |
| Jacob Balslev Meldgaard | Chief Executive Officer; Director | Executive Board | - | 54 |
| Kim Balle | Chief Financial Officer | Senior Management | 2019 | 54 |
| David Neil Weinstein | Deputy Chairman | Executive Board | 2015 | 63 |
| Lars Christensen | Head - Projects of TORM A/S | Senior Management | 2011 | 56 |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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