TORM plc (TRMD) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by. My name is Rebecca and I will be your conference operator today. At this time, I would like to welcome everyone to the TORM third quarter 2025 results conference call. All lines have been placed on mute to prevent any 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 1 again. Thank you. I would like to turn the call over to Jacob Melgaard, CEO. Please go ahead. Yeah, thank you. And also, welcome to everyone joining us here today from me. This morning, we released our interim results for the third quarter of 2025. delivering another strong set of numbers that underscored TORM's ability to generate market-leading performance. In Q3, we continued to operate in a relatively stable market environment despite ongoing geopolitical tensions. Trade rates firmed compared to the first half of the year, driving a TCE of US$236 million above the levels achieved in the previous quarters. This, in turn, resulted in a net profit of US $78 million, enabling us to declare a dividend of 62 US cents per share, clearly reflecting how stronger earnings translate into higher shareholder returns. Also, we advanced our fleet optimization strategy with the acquisition of five vessels for 2014-built MRs and one 2010-built LR2, while divesting a 2007-built MR. We also agreed a three-year time charter for the 2009-built MR Vessel Tome Lily to a European refiner at a daily rate of US$22,234, thus above the prevailing market rate for such vintage. These transactions support our ongoing focus on maintaining a modern, high quality and commercially attrac...