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Euronav is ready to deploy USD 700 million

Belgian tanker company Euronav has the option to deploy USD 700 million to be used on, for example, new tanker purchases. CEO sees a tough tanker market continue into the second half-year and hopes for increased scrapping activity in the sector.

Photo: PR / Euronav

Belgian Euronav has a big sum at its disposal to buy up assets in the tanker market.

During a teleconference on Thursday, CEO Hugo de Stoop said Euronav has the possibility of deploying USD 700 million.

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