Danish shipping firm joins Elite C25 stock index

The Danish tank shipping company Torm has been added to the C25 index, a prestigious group of Denmark’s largest and most traded companies on the Copenhagen Stock Exchange, announced by Nasdaq Copenhagen. Torm’s inclusion, as the 25th member, is owed to its significant market value and trade volume, driven by successive record profits. The recent merger of Chr. Hansen and Novozymes into Novonesis reduced the index to 24 members, opening a spot for Torm. The company has seen increased share liquidity after its American main shareholder sold off part of their stake since 2015. Torm also benefitted from elevated freight rates due to the Ukraine war and resultant energy market volatilities. The C25 index is revisited biannually, factoring in trade activity and market capitalization. Torm joins prominent companies like Mærsk and DSV in the index.