Download

Mobile

Desktop

Download now

View more versions

About us

English
中文繁體
中文简体

Markets
Products
News
Moo Community
- Feed
  
  Find inspiration for your next move
- Topics
  
  Discuss hot topics with like-minded traders
Learn
Investing
- Investment Choices
  
  Explore investment products
  Cash Sweep
  
  Stocks
  
  Fractional Shares
  
  ETFs
  
  Options
  
  Margin Trade
- Features
  
  See our powerful trading features in action
  Charts
  
  Stock Analysis
  
  Level 2 Data
  
  Nasdaq Market Depth
- Pricing
  
  Transparent fees, no account minimums

Open Account

Financial services in the moomoo app are provided by Moomoo Financial Inc. You will be redirected to Moomoo Financial Inc's web domain, where the account application pages are hosted.

Account Info

Log Out

English

Back

Markets
Products
News
Moo Community
- Feed
  
  Find inspiration for your next move
Learn
Investing
- Investment Choices
  - Cash Sweep
  - Stocks
  - Fractional Shares
  - ETFs
  - Options
  - Margin Trade
- Features
- Pricing
  
  Transparent fees, no account minimums

English
中文繁體
中文简体

Dark
Light

Download

Back to the Top

Torm | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement · Mar 7 06:19

TRMD +1.57%

Summary by Moomoo AI

TORM plc, a leading carrier of refined oil products, announced its full-year results for 2023 and provided a financial outlook for 2024. The company reported a record-breaking year with time charter equivalent earnings (TCE) reaching USD 1,084 million, an increase from USD 982 million in 2022. EBITDA also rose to USD 848 million from USD 743 million, and net profit for the year was USD 648 million, up from USD 563 million. The strong performance was attributed to favorable market conditions, strategic fleet expansion, and modernization, which positioned TORM well for future years. The product tanker market in 2023 was influenced by geopolitical tensions and refinery dislocation, leading to increased ton-mile demand and supporting a positive supply and demand situation. TORM's fleet expansion included the acquisition of 22 eco vessels and the divestment of 11 older vessels in 2023, with an additional LR2 vessel acquired in Q1 2024. The company's fleet now totals 90 vessels. TORM's Board of Directors has recommended a final dividend of USD 1.36 per share, with an expected total dividend payment of approximately USD 126 million. The dividend is subject to approval at the annual general meeting, with a payment date set for April 24, 2024. For 2024, TORM expects TCE earnings to be in the range of USD 1.0 – 1.35 billion and EBITDA to be between USD 700 – 1,050 million, based on the current fleet size. As of March 4, 2024, TORM had covered 25% of the 2024 earning days at an average rate of USD/day 44,089. The company also amended its Distribution Policy, removing the earmarked proceeds mechanism and continuing quarterly distributions based on excess liquidity. A webcast and conference call for investors and analysts were scheduled for March 7, 2024.

Helpful

Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

Risk Disclaimer

The information summarized by Moomoo AI is generated automatically by a third-party artificial intelligence (AI) model based on the news content. It does not represent the views of Moomoo Technologies Inc. (MTI) or constitute investment advice related to MTI and its affiliated companies. Due to implementation limitations and technological capabilities, the AI-generated information quality may vary. You agree that any action you take upon the information on this page is at your own risk. You further agree that MTI and its affiliated companies shall not be held liable for any losses or damages incurred as a result of your use of the above information.

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.

In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).

In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.

In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our website https://www.moomoo.com/au.

In Canada, order-execution only services available through the moomoo app are provided by Moomoo Financial Canada Inc., regulated by the Canadian Investment Regulatory Organization (CIRO).

In Malaysia, investment products and services available through the moomoo app are offered through Moomoo Securities Malaysia Sdn. Bhd. ("Moomoo MY")regulated by the Securities Commission of Malaysia (SC). Moomoo Securities Malaysia Sdn. Bhd. is a Capital Markets Services Licence (License No. eCMSL/A0397/2024) holder. This advertisement has not been reviewed by the SC.

Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.，Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc., and Moomoo Securities Malaysia Sdn. Bhd. are affiliated companies.

Got it

Risk Disclaimer

Got it

About moomoo

Terms & Conditions

Licensed Entities*

Your Privacy Choices

Careers / Contact:

hr@us.moomoo.com

The moomoo app is an online trading platform offered by Moomoo Technologies Inc. Securities, brokerage products and related services available through the moomoo app are offered by including but not limited to the following brokerage firms: Moomoo Financial Inc. regulated by the U.S. Securities and Exchange Commission (SEC), Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS), Futu Securities International (Hong Kong) Limited regulated by the Securities and Futures Commission of Hong Kong (SFC), Moomoo Financial Canada Inc. regulated by the Canadian Investment Regulatory Organization (CIRO) and Futu Securities (Australia) Ltd regulated by the Australian Securities and Investments Commission (ASIC).

For further information about Moomoo Financial Inc., please visit Financial Industry Regulatory Authority (FINRA)’s BrokerCheck. Brokerage accounts with Moomoo Financial Inc. are protected by the Securities Investor Protection Corporation (SIPC). Moomoo Financial Inc. is a member of Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). It is important to understand that SIPC protects customer accounts against losses caused by the financial failure of the broker-dealer, but not against an increase or decrease in the market value of securities in customers' accounts. SIPC does not protect against market risk, which is the risk inherent in a fluctuating market. For further information about SIPC coverage for accounts with Moomoo Financial Inc., see www.sipc.org or request an explanatory brochure from Moomoo Financial Inc.

Options trading entails significant risk and is not appropriate for all customers. It is important that investors read Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount. Supporting documentation for any claims, if applicable, will be furnished upon request.

Investments in stocks, options, ETFs and other instruments are subject to risks, including possible loss of the amount invested. The value of investments may fluctuate and as a result, clients may lose the value of their investment. Past performance should not be viewed as an indicator of future results.

Margin trading involves interest charges and heightened risks, including the potential to lose more than invested funds or the need to deposit additional collateral. Before trading on margin, customers are advised to determine whether this type of trading is appropriate for them in light of their respective investment objective, experience, risk tolerance and financial situation.

Free trading refers to $0 commissions for Moomoo Financial Inc. self-directed individual cash or margin brokerage accounts of U.S. residents that trade U.S. listed securities via mobile devices or Web. Relevant SEC & FINRA fees may apply. For details, please see Commission and Fees.

All types of investments are risky and investors may suffer losses. Past performance of investment products does not guarantee future results. Electronic trading also poses risks to investors. The responsiveness of the trading system may vary due to market conditions, system performance, and other factors. Account access and trade execution may be affected by factors such as market volatility.

No content on the website shall be considered as a recommendation or solicitation for the purchase or sale of securities, futures, or other financial products. All information and data on the website are for reference only and no historical data shall be considered as the basis for predicting future trends.

Information contained on this website is general in nature and has been prepared without any consideration of customers’ investment objectives, financial situations or needs. Customers should consider the appropriateness of the information having regard to their personal circumstances before making any investment decisions.

Investment products are not insured by the Federal Deposit Insurance Corporation (FDIC) or guaranteed by a bank, and may decline in value.

The services and products offered on the website are subject to applicable laws and regulations, as well as relevant service terms and policies. The services and products are not available to all customers or in all geographic areas or in any jurisdiction where it is unlawful for us to offer such services and products.