Euronav books huge deficit in toxic year for tanker shipping

The bottom line went from positive to negative for Euronav in the first quarter of the year. Critical interim results are underway from tanker shipping companies, which are struggling with highly negative conditions in the market.

Photo: PR-foto: Euronav

Tanker shipping company Euronav booked a negative first quarter with its bottom line down USD 73.4 million compared to the same period last year.

From a profit of USD 34.2 million before taxes in the first quarter last year, the tanker shipowner lost USD 39.1 million before taxes in the first three months of 2018.

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