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