HIGHLIGHTS
- Strong tanker dynamics - highest quarterly rate performance in
ten years
- Crude tanker market fundamentals remain constructive for
2020
- Q1 trading VLCC rates so far USD 89,200 per day; Suezmax USD
57,500 per day
- Adoption of quarterly dividends under new Belgian company code
to start Q1 2020
- Returns to shareholder guidance to target 80% including fixed
annual dividend USD 12 cents
- Final dividend proposal for 2019 of USD 0.35 per share
ANTWERP, Belgium, 30 January 2020 – Euronav NV
(NYSE: EURN & Euronext: EURN) (“Euronav” or
the “Company”) today reported its non-audited financial results for
the fourth quarter of 2019 ended 31 December 2019.
Hugo De Stoop, CEO of Euronav said: “Tanker
sector fundamentals improved further during Q4 to drive large
tanker markets to their highest level since 2008. Specific
catalysts have continued to influence short term freight rates -
reflecting the current balance in market dynamics. Our fuel
procurement strategy has delivered operational security over the
key implementation period of IMO 2020. With continued limited
contracting of new vessels, an order book at 25 year low and fleet
expansion capital being rationed, the prospects for a sustainable
cyclical upturn remain in place. The updated guidance on dividend
policy provides a clear mechanism for future returns to
shareholders”.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The most
important key figures (unaudited) are: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in
thousands of USD) |
|
|
Fourth Quarter 2019 |
|
|
Fourth Quarter 2018 |
|
|
Full Year 2019 |
|
|
Full Year 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
|
355,154 |
|
|
236,107 |
|
|
932,377 |
|
|
600,024 |
|
|
Other
operating income |
|
|
5,515 |
|
|
1,237 |
|
|
10,094 |
|
|
4,775 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Voyage
expenses and commissions |
|
|
(34,881) |
|
|
(44,492) |
|
|
(144,682) |
|
|
(141,416) |
|
|
Vessel
operating expenses |
|
|
(53,471) |
|
|
(53,812) |
|
|
(211,795) |
|
|
(185,792) |
|
|
Charter
hire expenses |
|
|
(604) |
|
|
(7,844) |
|
|
(604) |
|
|
(31,114) |
|
|
General
and administrative expenses |
|
|
(18,796) |
|
|
(15,977) |
|
|
(70,144) |
|
|
(66,232) |
|
|
Net gain
(loss) on disposal of tangible assets |
|
|
9,354 |
|
|
(237) |
|
|
24,141 |
|
|
18,865 |
|
|
Impairment on non-current assets held for sale |
|
|
− |
|
|
(2,995) |
|
|
− |
|
|
(2,995) |
|
|
Depreciation |
|
|
(84,403) |
|
|
(78,483) |
|
|
(337,547) |
|
|
(270,693) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
finance expenses |
|
|
(21,060) |
|
|
(23,828) |
|
|
(99,384) |
|
|
(74,389) |
|
|
Bargain
purchase |
|
|
− |
|
|
(13,202) |
|
|
− |
|
|
23,059 |
|
|
Share of profit (loss) of equity accounted investees |
|
|
4,200 |
|
|
3,783 |
|
|
16,020 |
|
|
16,076 |
|
|
Result before taxation |
|
|
161,008 |
|
|
257 |
|
|
118,476 |
|
|
(109,832) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax benefit (expense) |
|
|
(207) |
|
|
22 |
|
|
392 |
|
|
(238) |
|
|
Profit (loss) for the period |
|
|
160,801 |
|
|
279 |
|
|
118,868 |
|
|
(110,070) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable to: Owners of the company |
|
|
160,801 |
|
|
279 |
|
|
118,868 |
|
|
(110,070) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The contribution to the result is as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in
thousands of USD) |
|
|
Fourth Quarter 2019 |
|
|
Fourth Quarter 2018 |
|
|
Full Year 2019 |
|
|
Full Year 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tankers |
|
|
156,810 |
|
|
(3,284) |
|
|
103,057 |
|
|
(125,930) |
|
|
FSO |
|
|
3,991 |
|
|
3,563 |
|
|
15,811 |
|
|
15,860 |
|
|
Result after taxation |
|
|
160,801 |
|
|
279 |
|
|
118,868 |
|
|
(110,070) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Information per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in USD
per share) |
|
|
Fourth Quarter 2019 |
|
|
Fourth Quarter 2018 |
|
|
Full Year 2019 |
|
|
Full Year 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
average number of shares (basic) * |
|
|
215,078,497 |
|
|
218,999,367 |
|
|
216,029,171 |
|
|
191,994,398 |
|
|
Result
after taxation |
|
|
0.75 |
|
|
0.00 |
|
|
0.55 |
|
|
(0.57) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* The number of
shares issued on 31 December 2019 is 220,024,713. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA reconciliation (unaudited): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in
thousands of USD) |
|
|
Fourth Quarter 2019 |
|
|
Fourth Quarter 2018 |
|
|
Full Year 2019 |
|
|
Full Year 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
(loss) for the period |
|
|
160,801 |
|
|
279 |
|
|
118,868 |
|
|
(110,070) |
|
|
|
+ Net
interest expenses |
|
|
21,404 |
|
|
20,905 |
|
|
90,490 |
|
|
70,652 |
|
|
|
+
Depreciation of tangible and intangible assets |
|
|
84,403 |
|
|
78,483 |
|
|
337,547 |
|
|
270,693 |
|
|
|
+ Income tax
expense (benefit) |
|
|
207 |
|
|
(22) |
|
|
(392) |
|
|
238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA (unaudited) |
|
|
266,815 |
|
|
99,645 |
|
|
546,513 |
|
|
231,513 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
+ Net
interest expenses JV |
|
|
1,184 |
|
|
1,322 |
|
|
4,587 |
|
|
3,635 |
|
|
|
+
Depreciation of tangible and intangible assets JV |
|
|
4,944 |
|
|
4,555 |
|
|
18,460 |
|
|
18,071 |
|
|
|
+ Income tax
expense (benefit) JV |
|
|
362 |
|
|
354 |
|
|
1,581 |
|
|
1,598 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proportionate EBITDA |
|
|
273,305 |
|
|
105,876 |
|
|
571,141 |
|
|
254,817 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proportionate EBITDA per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in USD per
share) |
|
|
Fourth Quarter 2019 |
|
|
Fourth Quarter 2018 |
|
|
Full Year 2019 |
|
|
Full Year 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
average number of shares (basic) |
|
|
215,078,497 |
|
|
218,999,367 |
|
|
216,029,171 |
|
|
191,994,398 |
|
|
|
Proportionate EBITDA |
|
|
1.27 |
|
|
0.48 |
|
|
2.64 |
|
|
1.33 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All figures, except for Proportionate EBITDA, have been prepared
under IFRS as adopted by the EU (International Financial Reporting
Standards) and have not been audited nor reviewed by the statutory
auditor. |
|
|
For the fourth quarter of 2019, the Company had
a net gain of USD 160.8 million or USD 0.75 per share (fourth
quarter 2018: a net gain of USD 0.3 million or USD 0.00 per share).
Proportionate EBITDA (a non-IFRS measure) for the same period was
USD 273.3 million (fourth quarter 2018: USD 105.9 million).
The average daily time charter equivalent rates
(TCE, a non IFRS-measure) can be summarized as follows:
In USD per day |
Q4 2019 |
|
Full Year 2019 |
VLCC |
|
Average spot rate (in TI pool)* |
61,700 |
|
35,900 |
Average time charter rate** |
35,700 |
|
32,400 |
SUEZMAX |
|
Average spot rate*** |
41,800 |
|
26,000 |
Average time charter rate |
29,300 |
|
29,400 |
*Euronav owned ships in TI Pool (excluding
technical offhire days)**Including profit share where applicable
***Including profit share where applicable (excluding technical
offhire days)
EURONAV TANKER FLEET
On 19 November 2019 Euronav entered into a joint
venture together with affiliates of Ridgebury Tankers and clients
of Tufton Oceanic to acquire two Suezmaxes for USD 40.6 million
with delivery later that same month. Each 50%-50% joint venture
company has acquired one Suezmax vessel. Euronav provided financing
for the joint ventures. Both vessels will be commercially managed
by Euronav’s chartering desk.
On 30 December 2019 Euronav delivered three VLCC
vessels to Taiping & Sinopec Financial Leasing Ltd Co as part
of a sale and leaseback transaction. The three VLCCs are the
Nautica (2008 – 307,284), Nectar (2008 – 307,284) and Noble (2008 –
307,284). The vessels were sold for a net en-bloc purchase price of
USD 126 million.
The transaction produced a capital gain of about
USD 23.0 million. Following IFRS 16 only USD 9.3 million which
corresponds to the gain related to the rights transferred to the
buyer and, as a result, has impacted the financial statements as
per 31 December 2019 positively. After repayment of the
existing debt, the transaction generated USD 66.6 million free
cash.
Euronav has leased back the three vessels under
a 54-months bareboat contract at an average rate of USD 20,681 per
day per vessel. At the end of the bareboat contract, the vessels
will be redelivered to their new owners.
UPDATED RETURNS TO SHAREHOLDERS
GUIDANCE
- Total return to shareholders policy targeting 80% of net
income
- As from first quarter 2020 results, dividends will be paid
quarterly
- Guidance will already apply to the 2019 final results
In practical terms, the 2019 final dividend
proposal from the board to the shareholders will be confirmed with
the announcement of the final year results for 2019 on 31st March
2020. This dividend, as with previous years, will then have to be
approved by shareholders at the AGM in May with payment
thereafter.
The first application of the new Belgian company
code allowing quarterly dividends will be with the Q1 2020 results
due to be announced in early May 2020. The ex-date and payment
profile will follow within a month of the announcement. Going
forward the company will announce results on a quarterly basis with
dividends following the same pattern of ex-date and payment
date.
GUIDANCE ON HOW CURRENT POLICY WILL BE
APPLIED
The following guidance on the current policy
will be applicable as of the first quarter 2020 results:
- Each quarter Euronav will target to return 80% of net income
(including the fixed element of USD 3 cents per quarter) to
shareholders
- This return to shareholders will primarily be in the form of a
cash dividend and the Company will always look at share buyback as
an alternative if it believes more value can be created for
shareholders
In line with the current policy, the calculation
will not include capital gains (reserved for fleet renewal) but
will include capital losses and the policy will at all times be
subject to freight market outlook, company balance sheet and
cyclicality along with other factors and regulatory
requirements.
Euronav believes this approach has the
flexibility to manage the Company through the cycle, retaining
sufficient capital for fleet renewal whilst simultaneously
rewarding our shareholders.
FINAL 2019 DIVIDEND
PROPOSED
Management is therefore pleased to announce that
it intends to recommend to the Board of Directors, subject to final
audited results being identical to the preliminary ones presented
herewith and absent of material adverse circumstances that the
Board proposes for approval of the AGM a final full year dividend
of USD 0.35 per share.
Taking into account the interim dividend
distributed in 2019 in the amount of USD 0.06 per share, the
expected dividend payable after the AGM should be USD 0.29 per
share.
The total final USD 0.35 dividend per share is
in line with the target return guidance when compared to underlying
earnings for the full year 2019 of USD 0.44 per share (after
stripping out capital gains).
Therefore, taking into account the share
buybacks executed over the course of 2019, the total return of
capital to shareholders related to the full year 2019 is USD 105
million or USD 0.49 per share.
CLIMATE AND ESG COMMITTEE
In December 2019 Euronav held its first meeting
with a new committee – the ESG and Climate Committee. This
committee will meet on a regular basis and consists of members of
the executive management team and non-executive directors from the
board.
This initiative reflects the commitment by
Euronav to fully engage on climate and ESG matters and ensure the
secure transportation of crude oil is a core part of the energy
transition to a cleaner future with lower emissions. Euronav is
also committed to gaining a rating from CDP (Climate Disclosure
Program) during 2020 from which it intends to develop challenging
emission reduction targets. Euronav has already been providing full
scope carbon emissions data since 2017.
Euronav was a key party of the drafting of the
Poseidon Principles formally launched in June 2019. Euronav is a
founding partner of the Global Maritime Forum from which many
sustainable initiatives were, and are expected, to be created. One
of which is the Getting to Zero coalition which aims to develop
zero emissions vessels by 2030 and to which Euronav is one of the
signatories.
INCLUSION IN BLOOMBERG GENDER EQUALITY
INDEX FOR 2020
Euronav remains committed to applying the
highest corporate governance standards possible. This was reflected
during 2019 with gender equality being a key orientation, which is
visible in all layers of the Company, including Board and
Management level.
In addition Euronav has been included in the
Bloomberg Gender-Equality Index 2020 (“GEI”). This is the third
year Euronav has been included in this index. The 2020 Index is a
reference index which measures gender representation across
internal company statistics, employee policies, external community
support and engagement, and gender-conscious product offerings. The
2020 GEI expands globally to represent 42 countries and a combined
market capitalization of USD 12
trillion.
FUEL PROCUREMENT PROJECT AND
IMPLEMENTATION OF IMO 2020
During 2019 Euronav purchased sufficient fuel to
cover more than half of its compliant fuel requirements for
calendar 2020. The key driver behind this strategy was to provide
security of fuel supply and ensure a smooth transition into IMO
2020. The compliant fuel has been deployed since end of Q4. The
inventory, which has been fully tested, was purchased at a very
competitive price well below the current spot price for compliant
fuel.
Following implementation of IMO 2020 a dynamic
fuel oil market will provide numerous and sustained challenges for
shipowners. Euronav has a dedicated fuel procurement team coupled
with a strong balance sheet and operational capability to meet
these challenges. The fuel procurement strategy implemented so far
has provided Euronav adequate protection against higher fuel prices
and a high degree of optionality going forward regarding fuel
strategies. This includes the potential to install scrubber
technology. Management will continue to closely monitor fuel market
dynamics and update stakeholders when necessary.
For more details on our IMO strategy:
https://www.euronav.com/investors/company-news-reports/presentations/2019/euronav-imo-2020-webinar/
TANKER MARKET
Demand and ton-mile
Demand for crude oil recovered strongly during
Q4 (IEA estimate 1.9 bpd for Q4 2019) on factors other than
seasonality with a prolonged period of refinery maintenance
reversing ahead of IMO 2020 coupled with GDP growth from improving
trade conditions.
The OPEC production cuts were extended in early
December into 2020 but the impact on the tanker market has been
negligible as longer ton mile trading routes principally from the
Atlantic (US Gulf, Brazil and the new Johan Sverdrup field from
Norway) shipping crude to the Far East. The US crude export
phenomenon continues to deliver with a new high of 4.4 million bpd
recorded in December (source EIA).
Periodic geo-political tensions, primarily in
the Middle East, also contributed to a stronger freight environment
during the quarter and into Q1. Other potential disruptions from
vessels leaving the fleet to install scrubbers were far less
intrusive than anticipated during Q4 as half the planned 98
installations were deferred into 2020. On an annualized basis
consensus estimates that a further 96 VLCCs plan to retrofit
scrubbers during 2020 reducing the fleet capacity by 1.9% - thus
providing a further positive driver to already robust
fundamentals.
Supply
Contracting of new vessels has continued to
remain benign with the order book (new orders as % of existing
fleet) static at 25 year lows and the run rate of new tanker orders
over the past 12 months below the level of new VLCCs required per
year from IEA demand projections.
Two key factors are driving such reluctance to
order; (1) increasingly restricted access to capital from
traditional shipping banks as regulatory pressures build (e.g.
Basel IV) and historical asset price volatility drives some policy
decisions (source: Petrofin) (2) owners reluctance to invest
capital in current technology whilst the sector is targeting
substantial reductions in carbon emissions by the end of the new
decade which is likely to require new propulsion technologies
and/or fuels.
The world large tanker fleet will also come back
as of this year to a more regular fleet age profile across all
vintages. This means, that should the freight markets show
weakness, there will be a healthy number of vessels old enough to
be recycled and therefore reduce the supply of ships available for
crude oil transportation.
Recent market activity
The fundamentals that underpinned a robust
freight rate market through most of Q4 2019 were augmented by IMO
related disruption to fleet supply and increased geopolitical risk
as the calendar year closed. Combined with seasonal strength during
the winter period this pushed freight rates temporarily to elevated
levels between mid-December and mid-January. As expected seasonal
trading patterns have reduced earnings and activity since then to
more normalized levels. Concerns over the potential impact of the
Coronavirus, a serious respiratory virus, on freight rates and
capital market activity are at a very early stage but will require
monitoring.
OUTLOOK
Q1 2020 has begun very strongly with some short
term factors driving freight rates to highly elevated if temporary
levels. Robust underlying fundamentals of vessel supply and demand
are supportive to a stronger freight market of some duration. The
effects of IMO 2020 should be a positive overlay during the current
and subsequent quarters but are also likely to provide some short
term disruption to the global shipping network. The recent trade
deal (first phase trade agreement) between US and China requires
over USD 50 billion of Chinese purchasing of energy product
including crude oil.
Whilst the fundamentals remain very good,
management acknowledge that it is premature to assess the impact of
the outbreak of the Coronavirus in China.
So far in the first quarter of 2020, the Euronav
VLCC fleet operated in the Tankers International Pool has earned
about USD 89,200 per day and 60% of the available days have been
fixed. Euronav’s Suezmax fleet trading on the spot market has
earned about USD 57,500 per day on average with 51% of the
available days fixed.
CONFERENCE CALL
Euronav will host a conference call today at
8.00 a.m. EST / 2.0 p.m. CET today to discuss the results for the
fourth quarter 2019.
The call will be a webcast with an accompanying
slideshow. You can find details of this conference call below and
on the “Investor Relations” page of the Euronav website at
http://investors.euronav.com.
Webcast Information |
Event Type: |
Audio webcast with user-controlled slide presentation |
Event Date: |
30 January 2020 |
Event Time: |
8.00 a.m. EST / 2.p.m. CET |
Event Title: |
“Q4 2019 Earnings Conference Call” |
Event Site/URL: |
https://services.choruscall.com/links/euronav2001304O9On8Ds.html |
Telephone participants may avoid any delays by
pre-registering for the call using the following link to receive a
special dial-in number and PIN conference call registration link:
http://dpregister.com/10138467. Pre-registration
fields of information to be gathered: name, company, email.
Telephone participants located in the U.S. who
are unable to pre-register may dial in to +1-877-328-5501 on the
day of the call. Others may use the international dial-in number
+1-412-317-5471.
A replay of the call will be available until 6th
of February 2020, beginning at 9 a.m. EST / 3 p.m. CET on 30
January 2020. Telephone participants located in the U.S. can dial
+1-877- 344-7529. Others can dial +1-412-317-0088. Please reference
the conference number 10138467.
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words "believe", "anticipate", "intends", "estimate", "forecast",
"project", "plan", "potential", "may", "should", "expect",
"pending" and similar expressions identify forward-looking
statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, our management's examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections.
In addition to these important factors, other
important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the failure of counterparties to fully perform
their contracts with us, the strength of world economies and
currencies, general market conditions, including fluctuations in
charter rates and vessel values, changes in demand for tanker
vessel capacity, changes in our operating expenses, including
bunker prices, dry-docking and insurance costs, the market for our
vessels, availability of financing and refinancing, charter
counterparty performance, ability to obtain financing and comply
with covenants in such financing arrangements, changes in
governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation,
general domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessels breakdowns and instances of off-hires and other factors.
Please see our filings with the United States Securities and
Exchange Commission for a more complete discussion of these and
other risks and uncertainties.
** *
Contact:Brian Gallagher – Head of IR, Research
and Communications & Executive Committee
member
Tel: +44 20 78 70 04
36
Email:
IR@euronav.com
Announcement of 2019 Full Year Results:
31st March 2020
About
EuronavEuronav is an independent tanker company engaged in
the ocean transportation and storage of crude oil. The Company is
headquartered in Antwerp, Belgium, and has offices throughout
Europe and Asia. Euronav is listed on Euronext Brussels and on the
NYSE under the symbol EURN. Euronav employs its fleet both on the
spot and period market. VLCCs on the spot market are traded in the
Tankers International pool of which Euronav is one of the major
partners. Euronav’s owned and operated fleet consists of 2 V-Plus
vessels, 42 VLCCs, 27 Suezmaxes (two of which are in a joint
venture) and 2 FSO vessels (both owned in 50%-50% joint
venture).
Regulated information
within the meaning of the Royal Decree of 14 November 2007
- 20200130 - EURN Q4 2019 press release - UK
- 20200130 - EURN Q4 2019 press release - NL
Euronav NV (EU:EURN)
Historical Stock Chart
From May 2024 to Jun 2024
Euronav NV (EU:EURN)
Historical Stock Chart
From Jun 2023 to Jun 2024