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.

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