Euronav – Preliminary Q2 and half year results 2015

Company Profiles, Markets, News, Reports, Statistics, Stock Markets — By on July 30, 2015 at 11:29 AM

EURONAV funnelHIGHLIGHTS

  • Sustained improvement in freight rates drives higher EBITDA to USD 142.3 million
  • Acquisition of four existing VLCCs under construction with option for four more sister vessels
  • Robust start of Q3 with freight rates for VLCC so far above $60, 000/day and more than 50% of available days already fixed
  • Interim Dividend to be announced on August 20 with final half year results

ANTWERP, Belgium, 30 July 2015 – Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) today reported its preliminary financial results for the three months ended 30 June 2015 and for the 6 months ended 30 June 2015. Paddy Rodgers, CEO of Euronav said: “Euronav has made further progress during Q2 by securing four modern VLCCs with the option for four more – at a very competitive price. This fleet rejuvenation was supported by a strong and stable rate environment during the second quarter which has continued into the current quarter. Improving demand for and increased supply of crude oil, rising sea-miles to serve that demand in the Far East and a manageable outlook for vessel supply aall provide a supportive market structure. Management look forward with confidence.”….

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20150730 2Q2015 Earnings ENG

 

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