Overview
TORM plc is an international shipping company focused on owning and operating product tankers that transport refined oil products and chemicals. Its fleet includes LR2, LR1 and MR vessels, serving global shipping routes. TORM describes its purpose as moving energy and clean petroleum products worldwide to support businesses and critical infrastructure, with safety as a priority.[1][2]
Founded in 1889, TORM has an international operating presence, with offices listed in Denmark, India, the Philippines, Singapore, the United Kingdom, the United Arab Emirates and the United States. For the year ended December 31, 2025, it reported revenue of USD 1,339.5 million and an average of 634 permanent employees, including seafarers and land-based staff.[1][3][4][5] [1][2][3][4][5][1][2][3]
Products & services
TORM’s core transport offering is the seaborne carriage of refined oil products and chemicals. Cargoes include gasoline, naphtha, diesel and jet fuel, carried on LR2, LR1 and MR product tankers. TORM lists LR1 vessels at 72,000–75,000 DWT, with 84,000 m³ capacity and a length of 228 metres; it also describes MR vessels as flexible for shorter and coastal trades.[2][6][7]
Through ME Production, TORM also develops and manufactures marine equipment, including exhaust-gas cleaning systems and energy-saving solutions; TORM acquired the remaining 25% stake in the business in June 2025.[8] TORM’s integrated services include fleet management, marine HR, technical operations and chartering.[9]
For the 2025 reporting year, reported segment revenue was $1,314.2 million for Tanker and $37.2 million for Marine Engineering, with $11.9 million in eliminations against consolidated revenue of $1,339.5 million. These figures equate to approximately 98.1% and 2.8% of consolidated revenue for Tanker and Marine Engineering, respectively, with eliminations of approximately 0.9%; they are segment shares, not a breakdown by cargo or tanker class.[4] [6][7][4][4][4][4][2][8][9]
Geographic presence
TORM’s operations have a global reach. Its reported principal office is in Hellerup, Denmark, with additional offices in Mumbai, New Delhi and Pune in India; Manila and Cebu in the Philippines; Singapore; Houston, Texas, and Wilmington, Delaware, in the United States; and Dubai, United Arab Emirates. The company also lists a London office.[10][11][12][13][14][15][16] Its fleet trades across routes including Middle East-to-Far East naphtha shipments and Middle East-to-Europe shipments of diesel or jet fuel; these are examples rather than a full regional breakdown.[2]
TORM’s 2025 annual reporting does not provide revenue by country or region, and the available segment reporting is not a geographic breakdown.[4] The company’s website describes a worldwide workforce of 3,600 seafarers and 400 office colleagues, but does not give a country-level employee distribution.[1] [10][11][12][13][14][15][16][4][2][1]
Business segments
TORM reports two business segments: Tanker and Marine Engineering. Tanker is its product-tanker shipping business, with LR1, LR2 and MR vessels managed collectively; these vessel classes are not separately reported business segments. Marine Engineering comprises its Marine Exhaust Technology business, focused on environmental technologies such as gas-cleaning systems, waste-heat recovery and solutions intended to reduce carbon emissions.[17][18][19]
In Q1 2026, reported segment revenue was USD 395.8 million for Tanker and USD 8.1 million for Marine Engineering, before USD 1.9 million of intersegment eliminations. On that pre-elimination segment-revenue basis, Tanker contributed approximately 98% and Marine Engineering approximately 2%. These percentages are calculated from the Q1 2026 figures and are not a Q2 2026 segment split.[20] [17][18][19][20][20][20][20]
Company history
TORM traces its origins to 1889, when Captain Ditlev E. Torm and Christian Schmiegelow founded the company.[1] In 2015, TORM completed a major balance-sheet restructuring and combined with an Oaktree-controlled entity, increasing its fleet to 74 owned product tankers.[21]
In 2016, TORM plc listed on Nasdaq Copenhagen, while TORM A/S was delisted; TORM’s Class A shares began trading on Nasdaq New York in December 2017.[22][23]
TORM continued expanding its product-tanker fleet, agreeing to acquire four MR vessels in 2019 and announcing purchases of seven LR1, three MR and eight LR2 vessels in 2023.[24][25][26][27] [23][1][21][22][24][25][26][27]
Sources
- www.torm.com[1]
- www.torm.com[2]
- www.torm.com[3]
- TORM A — Full financial report (2025 Y)
- www.torm.com[8]
- www.torm.com[9]
- TORM A — Full financial report (2025 Y)[17][18]
- TORM A — Full financial report (2026 Q 1)[19][20]
- www.torm.com[21]
- www.torm.com[22]
- www.torm.com[24]
- www.torm.com[25]
- www.torm.com[26]
- www.torm.com[27]
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