Strong product tanker markets in 2019 have resulted in Torm filing its strongest financial results in three years.
The Danish company's net profit for the year was $166m, which is up by 574% since the loss of $35m seen during 2018.
The net result for last year was $46m, excluding an impairment reversal of $120m, which was booked after a re-appraisal of the value of Torm's 65 owned vessels following improvements in freight rates and a reduction in discount rate, Torm said.
