TORM plc (TRMD) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

ORM second quarter 2025 conference call. All lines have been placed on mute to prevent background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the conference over to Jacob Meldgaard, CEO. You may begin. Thank you very much, and a warm welcome here to everyone joining us on TORM's Q2 2025 conference call. Earlier this morning, we did release our interim results for the second quarter of 2025, and I'm pleased that, again, we can report market-leading performance. In the quarter, we witnessed a continuation of the more stable operating environment established in the first quarter offering a clear contrast to the freight rate volatility seen in the latter part of last year. Our TCE came in at 208 million US dollars, broadly consistent with both the last quarter of 2024 and the first quarter of 2025. This translated into a net profit of US dollar 59 million, leading to another quarter with attractive dividend distribution of 40 US cents per share. We also advanced our fleet optimization strategy by divesting one LR2 vessel and two MR vessels, all built in 2008. This aligns with our ongoing approach of phasing out older tonnage to maintain a modern, high-quality, and commercially attractive fleet. These well-placed transactions underscore the strong condition and upkeep of our vessels and do reinforce our commitment to operating an efficient and competitive platform. Looking ahead, the macro environment continues to be fast moving and marked by geopolitical uncertainty, but market sentiment remains broadly positiv...