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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.

Photo: PR / Euronav

The upcoming global sulfur regulations, set to come into force next year, hit Belgium's Euronav with a large deficit in the second half of the year.

The tanker shipping company, which operates one of the world's largest fleets of crude oil supertankers, books a deficit of USD 38.5 million in the second quarter. This comes after a first quarter that brought a profit of USD 19.5 million.

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