The Tanker Boom's Fragile Foundation The recent quarter end results from TORM (NASDAQ:TRMD) have sent shockwaves through the shipping industry.
On August 26, the company announced a record breaking second quarter profit of $338 million, more than double last year's earnings.
However, this windfall is not due to any clever maneuvering by TORM's management – it's purely a result of geopolitics.