Torm shares gain after company lifts full-year profit outlook
Torm raised its EBITDA and time-charter equivalent income forecasts as tanker freight markets continued to strengthen.
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what happened
Shares of oil product tanker operator Torm climbed 4.3% in pre-market trading Monday after the company increased its full-year outlook. EBITDA is now expected at $1.3B-$1.5B, compared with the previous $1B-$1.29B forecast, while time-charter equivalent income is projected at $1.7B-$1.9B versus the earlier $1.4B-$1.6B range.
Torm said the upgrade reflects stronger-than-anticipated earnings visibility, supported by its current forward freight coverage and continued favorable conditions across the product tanker market. Seeking Alpha cited Clarksons Research data showing that global shipping rates reached a new record high for a fifth consecutive week. Average VLCC earnings rose 21% to $804,601 per day, Suezmax earnings increased 17% to $724,398, and Aframax earnings jumped 46% over the week to $393,951 per day.
why it matters
The update highlights how firm tanker markets are supporting shipping companies’ earnings outlooks. Seeking Alpha described market conditions as “exceptional,” while Clarksons Research’s figures showed broad gains across VLCC, Suezmax and Aframax segments.
instruments
sources
- Torm rises after raising full-year profit forecast by $300M — Seeking Alpha, 12 October 2026 at 13:25 UTC
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