TORM reports strong Q1 2026 with record freight rates and raises full-year earnings guidance

TORM delivered a robust first quarter in 2026, driven by record-high freight rates amid geopolitical tensions affecting oil supply routes. The company reported a net profit of USD 122 million, nearly doubling from the previous year, supported by increased time charter equivalent earnings and fleet renewal investments. Due to strong market conditions, TORM raised its full-year 2026 earnings guidance, expecting TCE earnings between USD 1.15 billion and USD 1.45 billion and EBITDA between USD 800 million and USD 1.1 billion. The company also approved a quarterly dividend of USD 0.70 per share, reflecting confidence in continued operational strength.