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Euronav

Read all the latest news about Euronav. ShippingWatch gives you independent, credible, critical and fair news.

Euronav's floating oil storage already seems to be paying off

420,000 tons of low-sulfur fuel oil, which Euronav bought this summer and is storing on a tanker vessel in Singapore, have already increased in value. Analyst firm Clarksons projects that the shipping company stands to gain significantly from its bet.

Old ships are the tanker owners' secret weapon

If the rates take a dive, there are so many scrap-ready tanker ships in the market that the shipping companies themselves have a certain degree of control over supply and demand, Euronav CEO Hugo de Stoop tells ShippingWatch.

This week's top stories on ShippingWatch

J. Lauritzen is challenged by excessive sulfur in new fuels, Global Risk Management opens new offices and reshuffles management, while a shipping CEO thinks the industry is unprepared for climate-related challenges. These are some of this week's most important stories on ShippingWatch.

Euronav buys two tankers for the spot market

Euronav buys stakes in two suezmax tanker vessels which will be used to seize an expected recovery in tanker rates. The ships are owned 50-50 in joint ventures with a competitor and a fund.

HMM joins coalition for carbon-free ships

South Korea's HMM is the most recent shipping line to join the Getting to Zero Coalition, which is working to develop the first CO2-free vessel before 2030. The coalition counts companies such as Maersk, MAN and Euronav.

Euronav buys 420,000 tons of low-sulfur oil

Tanker major Euronav has already bought large quantities of low-sulfur fuel oil ahead of 2020. The oil is currently aboard a ULCC vessel and will soon be on its way to Singapore. The company is considering installing scrubbers from next year.

Euronav books large second quarter deficit

Belgium's Euronav reports a double-digit million-dollar deficit for the second quarter. According to the shipping company, the upcoming sulfur regulations in particular factor in. But the tanker shipping company remains confident that a recovery will emerge toward the end of the year.

Euronav returned to profit in first quarter

Belgium's Euronav turned a deficit into a profit in the first months of the year, and the crude tanker operator's future CEO sees several positive developments in the market.

Euronav appoints new CEO

Crude oil carrier Euronav has appointed a new CEO who will take over from Paddy Rodgers in an internal promotion.

Paddy Rodgers decides to step down

Euronav CEO Paddy Rodgers will step down in 2019 now that he has completed the merger with Gener8. Euronav's strategy will remain unchanged, says chairman.

Euronav closes 2018 with black figures in a tough year for tanker

The fourth quarter showed VLCC rates at their highest level in several years, which created a small plus in the first three months of the year for Belgium's Euronav. However, this was not enough to secure an annual profit for 2018, which was a tough year for the tanker industry.

Several major shipping lines doubt Maersk's 2050 vision

Several of Maersk's competitors cannot get behind the vision of CO2 neutrality in 2050, though the container carrier is praised by politicians, NGOs and several international organizations for its anouncement. The IMO targets are ambitious enough, they say.

Tanker operators increasingly optimistic about next 18 months

While several tanker ship operators such as Euronav, DHT and Tsaksos Energy Navigation are generally positive about the next 18 months, future environmental regulations loom on the horizon. But the sulfur regulations are expected to create more business starting already next year.

This is why Euronav can hesitate on scrubber decision

The Euronav CEO points to the acquisition of Maersk Tankers' VLCC fleet as an example of the company's courage to purse its own path, just as is currently the case with scrubbers. He also explains what Euronav will do if its scrubber assessment is wrong.

Derfor tør Euronav tøve med scrubber-beslutning

Købet af Maersk Tankers' flåde er et eksempel på Euronavs mod til at gå egne veje, lyder det fra topchef Paddy Rodgers. Ligesom det lige nu er tilfældet i spørgsmålet om scrubbere, mener han.

Paddy Rodgers voices new criticism of scrubbers

Unlike its competitors, Belgian Euronav and its CEO are not fans of scrubbers. In the latest interim report, which shows a large deficit, the tanker shipping company lists three main concerns related to the technology.

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