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TORM plc Q2 2026 Results, Dividend Distribution, and Financial Outlook 2026

  • TORM reported record quarterly results for Q2 2026 with Time Charter Equivalent (TCE) earnings of USD 512m, up from USD 208m in the same period in 2025.
  • Net profit for the quarter reached USD 338m, marking a new all-time high compared to USD 59m in Q2 2025, while EBITDA totaled USD 416m.
  • CEO Jacob Meldgaard announced an increase in full-year guidance by USD 200m, citing strong earnings & confidence in continued market strength.
  • Freight rates surged due to geopolitical conflicts involving the US, Israel, & Iran, along with the closure of the Strait of Hormuz, which disrupted global oil trade flows.
  • Fleet-wide average TCE rates reached USD/day 59,301, with LR2 vessels achieving USD/day 66,993, LR1 vessels USD/day 57,550, & MR vessels USD/day 57,040.
  • Return on Invested Capital (ROIC) for Q2 2026 was 44.2%, & basic earnings per share (EPS) amounted to USD 3.31.
  • TORM expanded its fleet to 97 vessels in Q2 2026 by taking delivery of two MR vessels & acquiring six resale MR vessels, with additional newbuilding agreements signed for six vessels (plus options for two) scheduled for delivery between 2029 & 2030.
  • The company declared an interim dividend of USD 2.40 per share, equivalent to 73% of net profit, with payment scheduled for 24 September 2026.
  • Full-year 2026 TCE earnings guidance was raised to an estimated range of USD 1,400m–1,600m, & full-year EBITDA guidance was raised to USD 1,000m–1,200m.
  • As of 18 August 2026, 70% of earning days for 2026 were fixed at an average rate of USD/day 45,391, leaving 10,271 days open to market fluctuations.
  • The consolidated Net Asset Value (NAV) was USD 3,737m as of 30 June 2026, translating to NAV per share of USD 36.50.