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EURONAV preliminary half year results 2014

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EURONAV funnelPreliminary Half year results 2014 
Highlights of recent developments

  • Acquisition of 4 VLCC vessels
  • Successful equity capital raise of USD 125 million
  • Recovery in crude tanker rates towards end Q2
  • Outlook positive on seasonal demand and improving fundamentals

Paddy Rodgers said: “Following the purchase of 15 VLCC’s in January from Maersk, Euronav  has acquired a further 4 VLCC’s in July after a further successful equity raise of USD 125 million. Euronav continues to look for opportunities to exploit its position as one of the largest independent quoted crude tanker platforms. Rates in both VLCC and Suezmax categories have improved significantly during June and July. We believe crude tanker rates will remain strong in the coming months due to positive seasonal demand factors and improving fundamentals.”

The executive committee of Euronav NV (NYSE EURONEXT BRUSSELS: EURN) today
reported its preliminary and unaudited financial results for the six months ended 30th June
2014.

140723 Q2 Results 2014

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