This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TORM A/S Q2 2010 Results

At 30 June, coverage for the remaining part of 2010 was 33% at USD 16,470/day.

 
Tanker Division Q2 09   Q3 09   Q4 09   Q1 10   Q2 10   Change Q2 09 - Q2 10 12 month avg.  
  LR2 (Aframax, 90-110,000 DWT)              
Available earning days 1,179 1,190 1,173 1,163 1,122 -5%  
TCE per earning day from the LR2 Pool 17,145 18,401 20,331 19,270 17,185 0%  
TCE per earning day 1) 15,785 17,406 18,356 18,456 15,505 -2% 17,431
Operating days 1,092 1,104 1,104 1,080 1,092 0%  
Operating expenses per operating day 2) 7,556 6,496 6,933 6,908 6,301 -17% 6,660
  LR1 (Panamax 75-85,000 DWT)              
Available earning days 1,756 1,835 2,025 1,748 1,777 1%  
TCE per earning day from the LR1 Pool 15,577 15,036 14,304 16,273 14,903 -4%  
TCE per earning day 1) 18,491 16,514 16,516 16,686 15,509 -16% 16,306
Operating days 819 828 828 810 749 -9%  
Operating expenses per operating day 2) 7,142 6,706 5,986 6,454 5,420 -24% 6,142
  MR (45,000 DWT)              
Available earning days 3,344 3,602 3,829 3,755 3,916 17%  
TCE per earning day from the MR Pool 14,712 14,974 11,521 14,179 12,567 -15%  
TCE per earning day 1) 15,363 15,349 12,417 14,700 12,363 -20% 13,707
Operating days 2,548  2,707 2,832 2,790 2,951 16%  
Operating expenses per operating day 2) 7,458 6,621 6,770 6,883 6,053 -19% 6,582
  SR (35,000 DWT)              
Available earning days 1,135 1,160 1,103 1,002 979 -14%  
TCE per earning day 1) 17,483 18,378 16,894 18,034 16,099 -8% 17,351
Operating days 1,001 1,012 1,012 990 1,001 0%  
Operating expenses per operating day 2) 6,600 6,105 6,326 6,041 4,821 -27% 5,823
               
1) TCE = Time Charter Equivalent Earnings = Gross freight income less bunker, commissions and port expenses.
2) Operating expenses are related to owned vessels.

Bulk Division

Operating profit for the second quarter of 2010 was USD 2 million, compared to USD 10 million in the second quarter of 2009.

3 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
TRMD $0.00 0.00%
TORM $6.45 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs