XML 92 R63.htm IDEA: XBRL DOCUMENT
v3.25.4

DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
DERIVATIVE FINANCIAL INSTRUMENTS |
Schedule of fair value of derivative financial instruments |
USDm |  | 2025 |  | 2024 |  | 2023
Fair value of derivatives: |  |  |  |  |  |
Derivative financial instruments regarding freight and bunkers: |  |  |  |  |  |
Forward freight agreements — fair value through profit and loss |  | 2.0 |  | 7.8 |  | 1.7
Bunker swaps — fair value through profit and loss |  | (0.8) |  | 0.3 |  | (0.2)
Bunker swaps — hedge accounting |  | — |  | 0.1 |  | (0.5)
Derivative financial instruments regarding interest and currency exchange rate: |  |  |  |  |  |
Forward exchange contracts — hedge accounting |  | 0.9 |  | (2.3) |  | 0.5
Interest rate swaps — hedge accounting |  | 8.3 |  | 24.7 |  | 35.3
Fair value of derivatives as of December 31 |  | 10.4 |  | 30.6 |  | 36.8
Schedule of derivative financial instruments disclosed in the balance sheet | Derivative financial instruments are presented as below on the balance sheet:
|  | Financial |  | Financial
USDm |  | assets |  | liabilities
2025 |  |  |  |
Offsetting financial assets and financial liabilities: |  |  |  |
Gross amount |  | 11.6 |  | (1.2)
Offsetting amount |  | (0.7) |  | 0.7
Net amount presented in the balance sheet |  | 10.9 |  | (0.5)
|  | Financial |  | Financial
USDm |  | assets |  | liabilities
2024 |  |  |  |
Offsetting financial assets and financial liabilities: |  |  |  |
Gross amount |  | 32.9 |  | (2.3)
Offsetting amount |  | — |  | —
Net amount presented in the balance sheet |  | 32.9 |  | (2.3)
|  | Financial |  | Financial
USDm |  | assets |  | liabilities
2023 |  |  |  |
Offsetting financial assets and financial liabilities: |  |  |  |
Gross amount |  | 37.7 |  | (0.9)
Offsetting amount |  | (0.1) |  | 0.1
Net amount presented in the balance sheet |  | 37.6 |  | (0.8)
Schedule of derivative financial instruments designated as hedge accounting | At year-end 2025, 2024, and 2023, TORM held the following derivative financial instruments designated as hedge accounting:
2025 |  | Notional value |  | Unit |  | 2026 |  | 2027 |  | After 2027
Forward exchange contracts (USD/DKK) ¹⁾ |  | 341.3 |  | DKKm |  | 341.3 |  | — |  | —
Interest rate swaps ²⁾ |  | 414.2 |  | USDm |  | 20.2 |  | 124.4 |  | 269.5
Bunker swaps ³⁾ |  | 2,400.0 |  | MT |  | 2,400.0 |  | — |  | —
1) The average hedge of USD/DKK currency was 6.4 2) The average interest rate was 2.76% p.a. plus margin 3) The average price of the hedging instruments was $391.0
Hedge accounting |  |  |  |  |  | Expected maturity
2024 |  | Notional value |  | Unit |  | 2025 |  | 2026 |  | After 2026
Forward exchange contracts (USD/DKK) ¹⁾ |  | 348.9 |  | DKKm |  | 348.9 |  | — |  | —
Interest rate swaps ²⁾ |  | 498.7 |  | USDm |  | 134.5 |  | 95.2 |  | 268.9
Bunker swaps ³⁾ |  | 9,000.0 |  | MT |  | 9,000.0 |  | — |  | —
1) The average hedge of USD/DKK currency was 6.8 2) The average interest rate was 1.29 p.a. plus margin. 3) The average price of the hedging instruments was $391.0
Hedge accounting |  |  |  |  |  | Expected maturity
2023 |  | Notional value |  | Unit |  | 2024 |  | 2025 |  | After 2025
Forward exchange contracts (USD/DKK) ¹⁾ |  | 325.5 |  | DKKm |  | 325.5 |  | — |  | —
Interest rate swaps ²⁾ |  | 923.0 |  | USDm |  | 103.3 |  | 172.0 |  | 647.7
Bunker swaps ³⁾ |  | 9,600.0 |  | MT |  | 9,600.0 |  | — |  | —
1) The average hedge of USD/DKK currency was 6.8 2) The average interest rate was 1.45 p.a. plus margin. 3) The average price of the hedging instruments was $539.2
Schedule of realized amounts and fair value adjustments for derivative financial instruments | The table below shows realized amounts as well as fair value adjustments regarding derivative financial instruments recognized in the income statements and equity in 2025, 2024 and 2023.
Income statement |  |  | Other comprehensive income |  | Equity
USDm | Port expenses, bunkers, and commissions | Financial items | Operating expenses | Admini- strative expenses |  | Transfer to income statement | Fair value adjustment |  | Hedging reserves as of December 31
2025 |  |  |  |  |  |  |  |  |
Forward freight agreements | (6.7) | — | — | — |  | — | — |  | —
Bunker swaps | — | — | — | — |  | (0.1) | (0.2) |  | (0.1)
Forward exchange contracts | — | — | 0.7 | 0.5 |  | (1.2) | 4.4 |  | 0.9
Interest rate swaps | — | 13.5 | — | — |  | (12.6) | (3.1) |  | 7.8
Total | (6.7) | 13.5 | 0.7 | 0.5 |  | (13.9) | 1.1 |  | 8.6
2024 |  |  |  |  |  |  |  |  |
Forward freight agreements | 8.2 | — | — | — |  | — | — |  | —
Bunker swaps | (0.1) | — | — | — |  | 0.1 | 0.5 |  | 0.1
Forward exchange contracts | — | — | (0.6) | (0.5) |  | 1.1 | (4.0) |  | (2.3)
Interest rate swaps | — | 22.5 | — | — |  | (20.9) | 10.5 |  | 23.7
Total | 8.1 | 22.5 | (0.6) | (0.5) |  | (19.7) | 7.0 |  | 21.5
2023 |  |  |  |  |  |  |  |  |
Forward freight agreements | 23.0 | — | — | — |  | — | — |  | —
Bunker swaps | 1.0 | — | — | — |  | 0.3 | (0.8) |  | (0.5)
Forward exchange contracts | — | — | — | (0.1) |  | 0.1 | 0.1 |  | 0.5
Interest rate swaps | — | 24.7 | — | — |  | (22.3) | 3.7 |  | 34.1
Total | 24.0 | 24.7 | — | (0.1) |  | (21.9) | 3.0 |  | 34.1

X
- Definition Represents the tabular disclosure of derivative financial instruments for balance sheet items. + References No definition available. + Details
Name: | trmd_DisclosureOfDerivativeFinancialInstrumentsForBalanceSheetItemsTableTextBlock
Namespace Prefix: | trmd_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the tabular disclosure of derivative financial instruments. [Refer: Derivatives + References No definition available. + Details
Name: | trmd_DisclosureOfDerivativeFinancialInstrumentsTableTextBlock
Namespace Prefix: | trmd_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the tabular disclosure of derivative financial instruments with the notional values. + References No definition available. + Details
Name: | trmd_DisclosureOfDerivativeFinancialInstrumentsWithTheNotionalValuesTableTextBlock
Namespace Prefix: | trmd_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | trmd_DisclosureOfDerivativeFinancialsInstrumentsExplanatoryAbstract
Namespace Prefix: | trmd_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represent disclosure of realized amount and fair value adjustment for derivative. + References No definition available. + Details
Name: | trmd_DisclosureOfRealizedAmountsAndFairValueAdjustmentsForDerivativeFinancialInstrumentsTableTextBlock
Namespace Prefix: | trmd_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration