TORM Receives Marine Money's Top 2001 Rankings Award.Business Editors A/S Dampskibsselskabet TORM A/S Dampskibsselskabet TORM or TORM (NASDAQ: TRMD), based in Copenhagen, Denmark, is a shipping company that owns and operates product tankers and bulk carriers. TORM's company's tankers carry refined oil products such as gasoline, jet fuel, naphtha and diesel oil. ("TORM TORM Transactional or Relationship Message (Federal Trade Commission email message definition) ")(Copenhagen Stock Exchange Copenhagen Stock Exchange The only securities exchange in Denmark. It features electronic trading of stocks, bonds, futures, and options. : TORM) (Nasdaq: TRMD), the world's largest product tanker operator, today announced that it received a Marine Money 2001 Rankings Award for its overall financial performance in 2001. TORM was ranked first out of 53 maritime transportation companies. The 2001 Rankings Award was based on an analysis of key financial performance, including a company's turnover ratio, profit margin, return on equity, return on assets Return on assets (ROA) Indicator of profitability. Determined by dividing net income for the past 12 months by total average assets. Result is shown as a percentage. ROA can be decomposed into return on sales (net income/sales) multiplied by asset utilization (sales/assets). , debt to capital ratio, debt to cover ratio and enterprise multiple (enterprise value/EBITDA). TORM's overall average was higher than any other shipping company. The Marine Money Rankings Data will be published in Marine Money's July/August Double Issue published at the end of July. "The result that TORM posted for Marine Money Rankings 2001 was a very pleasant surprise to Marine Money as there was so much great competition," said Urs M. Dur, Editor of Marine Money International. "In the average results, nobody came close to matching TORM's performance, so they are very deserving. The others in the top ten should use TORM as a goal marker for Rankings 2002. Obviously, the award looks at past results and past results do not indicate the future, but the good results warrant serious note from the investment community. It's an honor to be able to present 1st Place, Marine Money Rankings 2001 to the whole team at TORM. They earned it." "I would like to thank the people of Marine Money for recognizing our success," said Klaus Kjaerulff, chairman and chief executive officer of TORM. "2001 was an exciting year for TORM both financially and operationally. As the leading organizer of pooling arrangements in the product tanker market, we manage the world's largest fleet of product tankers on behalf of 14 high-quality vessel owners. Along with our pool partners, we have achieved significant financial benefits from this pooling initiative in the form of better vessel utilization, reduced expenses and consolidated marketing. We have only begun to reap the rewards from our pool partnerships, and look forward to growing our business substantially in the coming years." The 15th annual Marine Money Week conference, sponsored by Marine Money International and its corporate partner JP Morgan Chase, was held last week at the Waldorf-Astoria in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Marine Money Week brought together 400 senior executives from the leading marine transportation companies, marine lenders and lessors, maritime investors and attorneys, as well as shipyards and government bodies from around the world. On April 16, 2002, TORM's shares began trading on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. in the form of American Depositary Receipts American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "TRMD." TORM has been listed on the Copenhagen Stock Exchange since the early part of last century. About TORM Founded in 1889, TORM is one of the world's most respected names in international shipping. The company is composed of product-tankers, bulk carriers and a liner division, with the product tanker activity accounting for the majority of the business. TORM is one of the world's premier carriers of clean oil products such as gasoline, jet fuel, naphtha naphtha (năp`thə, năf`–), term usually restricted to a class of colorless, volatile, flammable liquid hydrocarbon mixtures. and diesel oil and a leading carrier of other clean products. TORM's bulk carrier division focuses mainly on the Panamax bulk carrier sector, carrying various bulk commodities, principally grain, coal and iron ore. The division is also engaged in the Handysize bulk carrier segment. TORM liner services carry primarily containers, break bulk, specialized cargoes and oil drilling equipment between the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. . Headquartered in Copenhagen, Denmark, TORM is responsible for the commercial operation of approximately 90 vessels, including some of the most modern and well-equipped ships afloat. For more information, please visit www.torm.dk. About Marine Money Marine Money International is the premier provider of maritime finance transactional information and maritime company analysis. Through the monthly magazine, weekly Internet newsletter, and our six international ship finance forums we give you in-depth analysis of the latest deals and trends in the global shipping market. |
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