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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.

Paddy Rodgers i åbent opgør med scrubbere

Modsat konkurrenterne giver belgiske Euronav og dets topchef ikke meget for scrubbere. I det seneste kvartalsregnskab, som viser et trecifret millionunderskud, oplister tankrederiet tre hovedbekymringer ved teknologien.

No supertanker orders in the third quarter

Higher prices and concerns over the order book have meant that the number of new orders for the major VLCC vessels in the third quarter landed at zero, writes JP Morgan in a new report.

Euronav CEO warns against scrubbers

While several tanker shipping companies opt for scrubbers as part of their solution to comply with the 2020 sulfur cap, Euronav CEO Paddy Rodgers is less enthusiastic.

Last week's top stories on ShippingWatch

Two bulk operators find themselves in trouble due to the contaminated bunker, which has spread to several major ports. Disappointing results and downgrades for container carriers. Low tanker rates, and DP World, in a surprise move, acquired Denmark's Unifeeder. Read this week's top stories.

Tanker carriers face another tough quarter

Tanker carriers are battling low earnings, and rates are far from high enough to secure black figures in the second quarter, says US firm Morgan Stanley. ShippingWatch has dived into a struggling market for a closer look.

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