TORM PLC 2021 AR2
The report details TORM's performance in 2021, a year characterized by challenging product tanker market conditions due to COVID-19. Despite these headwinds, the company expanded its fleet to 85 vessels, the largest in its history, and commercially outperformed its peers. TORM accelerated its environmental commitment, aiming to achieve a 40% CO2 reduction by 2025 instead of 2030, and joined the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping. Financially, the company reported a net loss of USD 42 million but maintained a solid capital structure with USD 210 million in available liquidity.
Company: TORM PLC
Sector: Energy
Country: United Kingdom
Year: 2021
Type: AR2
Pages: 179
TORM PLC
Annual Report
The report details TORM's performance in 2021, a year characterized by challenging product tanker market conditions due to COVID-19. Despite these headwinds, the company expanded its fleet to 85 vessels, the largest in its history, and commercially outperformed its peers. TORM accelerated its environmental commitment, aiming to achieve a 40% CO2 reduction by 2025 instead of 2030, and joined the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping. Financially, the company reported a net loss of USD 42 million but maintained a solid capital structure with USD 210 million in available liquidity.
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Document Details
Report Year
2021
Reporting Period
Jan 1, 2021 - Dec 31, 2021
Fiscal Year
2021
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Materiality Assessment
ESG Data?Experimental — AI-extracted data, may contain inaccuracies
Emissions
Scope 1:
Scope 2:
Energy Consumption
Renewable Energy
Water Consumption
Women on Board
Women in Management
Workplace Fatalities
Net Zero Target
Employees