TORM PLC 2018 AR2
The report highlights TORM's performance during the challenging product tanker market of 2018, where the company realized an EBITDA of USD 121m and a net loss of USD 35m. To modernize its fleet, the company took delivery of four LR2 vessels and ordered three additional MR vessels, bringing its newbuilding program to nine vessels. Preparing for the IMO 2020 sulfur regulation, the company committed to installing 21 scrubbers and established a joint venture, ME Production China, to manufacture scrubbers. Additionally, the company extended its sustainability commitment to include the UN Sustainable Development Goals, focusing on Quality Education and Climate Action, and achieved a 6.9% improvement in fuel efficiency compared to a 2015 baseline.
Company: TORM PLC
Sector: Energy
Country: United Kingdom
Year: 2018
Type: AR2
Pages: 151
TORM PLC
Annual Report
The report highlights TORM's performance during the challenging product tanker market of 2018, where the company realized an EBITDA of USD 121m and a net loss of USD 35m. To modernize its fleet, the company took delivery of four LR2 vessels and ordered three additional MR vessels, bringing its newbuilding program to nine vessels. Preparing for the IMO 2020 sulfur regulation, the company committed to installing 21 scrubbers and established a joint venture, ME Production China, to manufacture scrubbers. Additionally, the company extended its sustainability commitment to include the UN Sustainable Development Goals, focusing on Quality Education and Climate Action, and achieved a 6.9% improvement in fuel efficiency compared to a 2015 baseline.
Sign in for free to access detailed sustainability data, reporting standards, and ESG metrics.
Document Details
Report Year
2018
Reporting Period
Jan 1, 2018 - Dec 31, 2018
Fiscal Year
2018
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Assurance
Assurance Provider
Assurance Standard
ESG Data?Experimental — AI-extracted data, may contain inaccuracies
Emissions
Scope 1:
Scope 2:
Scope 3:
Women on Board
Women in Management
Employees