Welcome to our dedicated page for Torm news (Ticker: TRMD), a resource for investors and traders seeking the latest updates and insights on Torm stock.
TORM plc operates a global product tanker fleet that transports refined oil products, including gasoline, jet fuel, naphtha and diesel. Company news commonly covers fleet and shipping-market disclosures alongside governance actions for an issuer whose A-shares trade on Nasdaq Copenhagen and Nasdaq New York.
Recurring updates include annual general meeting notices and voting results, dividend and capital-return policy references, share-capital increases tied to Restricted Share Units, long-term incentive program grants, director and executive securities transactions, and major-shareholder announcements under Danish capital-market rules.
TORM plc (ticker: TRMD) is set to release its financial results for Q2 2021 and the first half of the year on August 10, 2021. The results will be discussed in a conference call scheduled for 09:00 am ET, where participants can dial in at least ten minutes early using the provided conference ID. A live webcast will also be available on TORM’s website, along with a replay option until August 24, 2021. TORM is recognized globally for its refined oil product transportation, operating a modern fleet of around 80 vessels.
TORM plc has announced a capital increase of 824,895 A-shares, totaling USD 8,248.95, following the delivery of the MR vessel Team Allegro. The shares were issued without pre-emption rights for existing shareholders due to the settlement of a USD 7.6 million loan note linked to the vessel’s acquisition. The new shares, priced at USD 9.2 each, are expected to be listed on Nasdaq Copenhagen by 27 July 2021 and will be subject to a 40-day lock-up period. Post-transaction, TORM's share capital stands at USD 809,643.52, comprising 80,964,350 A-shares.
TORM plc has increased its share capital by 730,057 A-shares, valued at USD 7,300.57, following the delivery of the MR vessel Team Leader. The capital increase, occurring without pre-emption rights for existing shareholders, is linked to a USD 6.7 million loan note. The new shares, priced at USD 9.2 each, will be locked for 40 days and offer full rights to dividends. Post-increase, TORM's share capital stands at USD 801,394.57 across 80,139,455 A-shares. These shares will be listed on Nasdaq Copenhagen on July 8, 2021.
TORM has executed a capital increase of 668,423 A-shares, raising USD 6,684.23, following the delivery of the MR vessel Team Voyager. This issuance of shares occurred without pre-emption rights for existing shareholders, linked to a settlement of a USD 6.2m loan note related to the vessel. Each new share has a nominal value of USD 0.01 and a subscription price of USD 9.2. The increased share capital will amount to USD 794,094 with 79,409,398 A-shares post-issuance, with new shares expected to trade on Nasdaq Copenhagen on June 16, 2021.
TORM plc has announced a capital increase of 695,768 A-shares, amounting to USD 6,957.68, following the delivery of the fifth vessel, Team Discoverer, from its recent acquisition. The shares were issued without pre-emption rights for existing shareholders at a subscription price of USD 9.2 per share. The total share capital now stands at USD 787,409.77 divided into 78,740,975 A-shares. The new shares will be listed on Nasdaq Copenhagen on 09 June 2021 and are subject to a 40-day lock-up period.
TORM has increased its share capital by issuing 12,405 A-shares due to the exercise of Restricted Share Units. The new shares were subscribed at DKK 43.4 each, totaling a nominal value of USD 124.05. These shares are ordinary, offer full rights including dividend entitlements, and will be listed on Nasdaq in Copenhagen on June 1, 2021. Following this capital increase, TORM's share capital stands at USD 780,452.07, divided into 78,045,207 A-shares, one B-share, and one C-share. Transfer restrictions may apply in certain jurisdictions.
TORM has increased its share capital by 564,232 A-shares, equivalent to USD 5,642.32, following the delivery of the MR vessel Team Adventurer from an earlier acquisition. The shares were subscribed in relation to a USD 5.2 million loan note and are priced at USD 9.2 per A-share. Post-transaction, TORM's total share capital is USD 780,328.04, with 78,032,802 A-shares. The new shares will be listed on Nasdaq Copenhagen by May 31, 2021, and will not confer pre-emption rights to existing shareholders.
TORM has announced a capital increase of 782,546 A-shares, raising USD 7,825.46, following the delivery of the MR vessel Team Cavatina. This capital increase is part of a prior agreement to acquire eight MR product tankers from Team Tankers Deep Sea Ltd. The shares were issued without pre-emption rights for existing shareholders, with a subscription price of USD 9.2 per A-share. Following this transaction, TORM's total share capital will amount to USD 774,685.72. The new shares will be admitted to trading on Nasdaq Copenhagen on 26 May 2021.
TORM reported a 2021 Q1 EBITDA of USD 18.9m, a sharp decline from USD 101.5m in the same period last year. The company faced weaker TCE rates at USD/day 13,493, down from USD/day 23,642. A loss before tax of USD -21.1m contrasts with a profit of USD 56.8m in 2020. Despite challenges from COVID-19 and OPEC+ quotas, TORM acquired three LR2 vessels and issued shares to finance the acquisition of eight MR vessels. As of March 31, 2021, TORM's liquidity stood at USD 329.4m.
TORM has announced the acquisition of three fuel-efficient LR2 vessels, enhancing its fleet capabilities. The total purchase price for the vessels, Nissos Schinoussa, Nissos Heraclea, and Nissos Therassia, is USD 120.8 million, with expected delivery in Q2 and Q3 of 2021. Financing for two vessels is secured at USD 60 million through Danish Ship Finance, while the third will be financed via a sale and leaseback deal for USD 32.2 million. Additionally, TORM will gain USD 6 million in liquidity from the sale of the MR vessel TORM Carina.