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Euronav's earnings drop in the first half of 2016

Belgian crude oil tank giant Euronav delivered a net profit of USD 153 million in the first half of 2016 against USD 173.2 million in the same period last year.

Photo: Euronav

Belgian tanker carrier Euronav emerged from the first half of 2016 with a smaller net profit than the same period last year, with a second-quarter result mirroring the weaker rate developments which have hit the international tanker market within product and crude oil.

Euronav booked a net profit of USD 153.7 million against USD 173.2 million in the same period last year. The operating result (Ebitda) in the first six months of 2016 landed at USD 298.6 million, against USD 316.1 million last year.

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