Tanker

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.
Oceania is a ultra large crude carrier, currently located in Singapore with a cargo of 420,000 tons low-sulfur fuel oil. | Photo: PR / Euronav
Oceania is a ultra large crude carrier, currently located in Singapore with a cargo of 420,000 tons low-sulfur fuel oil. | Photo: PR / Euronav
by NIKLAS KRIGSLUND

Euronav's purchase of a large oil cargo that will be used to bunker the shipping company's vessels now already looks set to pay off.

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