ShippingWatch

Euronav's supertankers sailing at towering rates

Belgian Euronav, which acquired Maersk's supertanker fleet in January last year, cut its deficit almost in half in 2014, aided by very strong rates for VLCC and Suezmax. This development accelerated significantly in the past year.

Photo: Euronav

Belgian Euronav, which in January last year acquired Maersk's major fleet of VLCC supertankers, was carried high by the strong tanker wave in 2014, where the company managed to cuts its 2013 deficit almost in half.

Euronav reports a net deficit after taxes of USD 45.7 million in 2014, compared to a deficit of USD 89.6 million after taxes in 2013, according to the carrier's annual report, published Wednesday.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs