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.

Read the whole article

Get 14 days free access.

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

Several factors explain the plummeting dry bulk rates

Dry bulk rates have taken an unusual dive at the beginning of 2022. Most recently, the Baltic Dry Index dipped by 4 percent Friday. Several factors have triggered a ”panic in the market,” an analyst explains to ShippingWatch.

Further reading

Related articles

Latest news

See all jobs