TORM is a leading global pure-play product tanker company with a modern fleet of around 90 vessels. Our operating model with integrated in-house commercial and technical management has consistently proven to be one of the strongest in the market, ensuring outstanding performance. We are well positioned to capitalize on a strong market as evidenced by the high earnings and free cashflow delivered in recent years, which have enabled both investments in additional vessels, deleveraging, and high dividend payments. It is TORM’s distribution policy to distribute excess liquidity to shareholders on a quarterly basis.