Added to YB: 2026-05-25
Pitch date: 2026-05-22
TRMD [bullish]
TORM plc
Author Info
Aurelion Research is a research analyst with a passion for markets, specializing in high‑conviction ideas across shipping, offshore drilling, and thematic equity research. Sign up for the newsletter.
Company Info
TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom and internationally.
Market Cap
DKK 3.4B
Pitch Price
N/A
Price Target
51.20
Dividend
N/A
EV/EBITDA
6.87
P/E
9.70
EV/Sales
3.03
Sector
Oil, Gas and Consumable Fuels
Category
dividend
2026 Shipping Primer: The Trade of the Year - TORM plc
TRMD: Product tanker w/ 95-ship fleet (103 by 2028). Q1 2026 fleet TCE $34,937/day (+30% YoY), 18% ROIC. Hormuz closure +15% global disruption, forcing longer Atlantic Basin routes (2x normal voyage length). 142 MR deliveries in 2026 but effective clean pool addition only 86 ships. Est 2026 EPS $6.48, div yield 16.8%; 2027E EPS $5.74, div yield 14.7%. PT $51.2 (~50% upside) at 9x 2027E. Trades 1.11x NAV vs $29.75/share. Aging fleet + refinery geography shift = structural tailwind beyond Hormuz premium
Read full article (3 min)