TORM
TORM, founded in Denmark in 1889, is one of the world’s largest owners and operators of product tankers, with a fleet of around 80 modern vessels transporting refined oil products and chemicals.
History
TORM was founded in Denmark in 1889. The company has grown to become one of the world’s largest owners and operators of product tankers. Over more than a century of operations, TORM has developed a significant presence in the shipping industry, specifically focusing on transporting refined oil products and chemicals.
Fleet and Capabilities
TORM operates a fleet of around 80 modern vessels, with a wholly owned fleet of approximately 90 vessels configured to move energy and clean petroleum products from refineries to end users. The fleet ranges in size between 45,000 to 115,000 DWT. Notable vessels in the fleet include TORM Dagmar, TORM Diana, TORM Danica, TORM Belis, and TORM Hannah. The vessels are flagged in countries such as Singapore, Denmark, and the US.
Sustainability Initiatives
TORM is committed to reducing its carbon footprint with a CO2 reduction target of 40% by 2025. The company has achieved a 39.6% reduction in its Annual Efficiency Ratio (AER) compared to the IMO baseline of 2008. Nearly 100% of TORM’s fleet is equipped with ballast water treatment systems. TORM is a member of initiatives like the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, the Getting to Zero Coalition, and a founding member of the ShippingLab.
Global Presence
TORM employs over 3,300 seafarers and 350 employees across its offices. The company has a global presence with nine offices in Denmark, India, the Philippines, Singapore, the UK, the UAE, and the US. This extensive network ensures effective coordination and operational efficiency across different regions.
Stock Information
TORM is listed on the Nasdaq in both New York and Copenhagen. The company has a dual listing, and its A shares are traded on both Nasdaq Copenhagen and Nasdaq New York. TORM’s issued share capital is USD 906,992.38, comprising 90,699,236 A shares of USD 0.01 each, one B share, and one C share. The B share is held by SFM Trustees Limited on behalf of TORM’s non-Oaktree shareholders, while the C share is held by OCM Njord Holdings S.à r.l. (Oaktree).