TORM plc reported record second-quarter 2026 results, with time charter equivalent earnings surging to USD 512 million from USD 208 million in the prior year period. Net profit reached an all-time high of USD 338 million compared to USD 59 million previously, driven by unprecedented freight rates caused by geopolitical disruptions and the closure of the Strait of Hormuz. The company announced a dividend distribution of USD 2.40 per share for the quarter. TORM also expanded its fleet by taking delivery of two MR vessels and acquiring six resale MR vessels, with additional newbuilding orders signed post-quarter. TORM plc operates in the tanker shipping industry, transporting crude oil and refined petroleum products globally.
