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Euronav NV (EUAV.BR)

EUAV.BR on Brussels Stock Exchange

6.63EUR
9:31am EDT
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€-0.07 (-1.04%)
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€6.70
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€8.17
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Latest Key Developments (Source: Significant Developments)

Euronav Q2 EBITDA at $43.5 million euros in line with Reuters poll
Thursday, 10 Aug 2017 02:04am EDT 

Aug 10 (Reuters) - EURONAV NV ::PUBLISHES H1 RESULTS.Q2 VLCC AVERAGE SPOT RATE (IN TI POOL) PER DAY $28,351 VERSUS $47,864 YEAR AGO.Q2 VLCC AVERAGE TIME-CHARTER RATE PER DAY $41,480 VERSUS $44,382 YEAR AGO.Q2 SUEZMAX AVERAGE SPOT RATE PER DAY $17,341‍​ VERSUS $33,119 YEAR AGO.WILL PAY AN INTERIM DIVIDEND OF USD 0.06 PER SHARE FOR THE FIRST HALF OF 2017..Q2 SUEZMAX AVERAGE TIME-CHARTER RATE PER DAY $21,651‍​ VERSUS $26,363 YEAR AGO.Q2 REVENUE $126.4 MILLION VERSUS $117 MILLION IN REUTERS POLL.EURONAV NV Q2 REUTERS POLL: REVENUE $117 MILLION; EBITDA $43.1 MILLION; NET LOSS OF $21.6 MILLION.FSO CONTRACTS EXTENSION PROVIDES FURTHER FIXED INCOME UNTIL 2022.Q2 EBITDA $43.5 MILLION VERSUS $43.1 MILLION IN REUTERS POLL.Q2 LOSS $24.2 MILLION VERSUS LOSS OF $21.6 MILLION IN REUTERS POLL.EURONAV NV - KEY CHALLENGE FOR TANKER MARKET IS CONCENTRATION OF DELIVERIES OF NEWBUILDINGS OVER NEXT 18 MONTHS.EURONAV - NEWBUILDS ENTERING THE MARKET IS PUTTING PRESSURE ON FREIGHT RATE.EURONAV - SO FAR IN Q3, ITS VLCC FLEET OPERATED IN TANKERS INTERNATIONAL POOL EARNED ABOUT $20,000 AND 61% OF AVAILABLE DAYS HAVE BEEN FIXED​.EURONAV - SO FAR IN Q3, ITS SUEZMAX FLEET TRADING ON SPOT MARKET EARNED $14,700/DAY ON AVERAGE WITH 60% OF AVAILABLE DAYS FIXED.  Full Article

Euronav JV with International Seaways to continue current contractual service FSOs Africa & Asia
Wednesday, 17 May 2017 12:48am EDT 

May 17 (Reuters) - EURONAV NV :SAYS JV WITH INTERNATIONAL SEAWAYS HAS SIGNED CONTRACT FOR 5 YEARS FOR THE FSO AFRICA AND FSO ASIA IN DIRECT CONTINUATION OF THE CURRENT CONTRACTUAL SERVICE.CONTRACT WAS SIGNED WITH NORTH OIL COMPANY ("NOC"), THE FUTURE OPERATOR OF THE AL-SHAHEEN OIL FIELD.NEW CONTRACTS ARE EXPECTED OVER THEIR FULL DURATION TO GENERATE EBITDA IN EXCESS OF USD 360 MILLION FOR THE JOINT VENTURES.NEW CONTRACTS WILL HAVE A DURATION OF FIVE YEARS STARTING AT THE EXPIRY OF THE EXISTING CONTRACTS WITH MAERSK OIL QATAR.BASED ON EURONAV'S 50% OWNERSHIP IN THE JOINT VENTURES THE FIVE YEAR CONTRACTS ARE EXPECTED TO GENERATE IN EXCESS OF USD 180 MILLION OF EBITDA FOR THE COMPANY.  Full Article

Euronav successfully places new senior unsecured bond issue
Tuesday, 16 May 2017 12:10pm EDT 

May 16 (Reuters) - EURONAV NV :SUCCESSFULLY PLACES NEW SENIOR UNSECURED BOND ISSUE.EURONAV LUXEMBOURG HAS SUCCESSFULLY COMPLETED A NEW SENIOR UNSECURED BOND ISSUE OF $150 MILLION WITH COUPON OF 7.50% AND MATURITY IN MAY 2022.OFFERING WAS SUBSTANTIALLY OVERSUBSCRIBED.  Full Article

Euronav: New long-term time charters and fleet renewal
Tuesday, 9 May 2017 03:50am EDT 

May 9 (Reuters) - EURONAV NV ::NEW LONG-TERM TIME CHARTERS AND FLEET RENEWAL.SIGNED ADDITIONAL 2 LONG-TERM TIME CHARTER CONTRACTS OF 7 YEARS EACH WITH VALERO ENERGY INC. FOR SUEZMAX VESSELS WITH SPECIALISED ICE CLASS 1C CAPABILITY STARTING IN LATE 2018.THIS BRINGS TO FOUR THE NUMBER OF LONG-TERM (SEVEN YEARS) SUEZMAX TIME CHARTER CONTRACTS THE COMPANY HAS WITHIN ITS PORTFOLIO.IN ORDER TO FULFIL THESE CONTRACTS, EURONAV HAS ORDERED TWO HIGH SPECIFICATION ICE CLASS SUEZMAX VESSELS FROM HYUNDAI HEAVY INDUSTRIES SHIPYARD IN SOUTH KOREA.DELIVERY OF THESE VESSELS IS EXPECTED IN THE SECOND HALF OF 2018 WHEN EACH OF THE TIME CHARTER CONTRACTS WILL BEGIN.  Full Article

Euronav Q1 EBITDA at $101.3 million
Wednesday, 26 Apr 2017 02:15am EDT 

April 26 (Reuters) - Euronav Nv : :Q1 revenue $164.2 million versus $151 million in Reuters Poll.Profit for the period $34.3 million versus $26.0 million in Reuters Poll.Q1 VLCC average spot rate (in TI pool) per day $40,528 versus $60,638 year ago.Q1 VLCC average time-charter rate per day $41,147 versus $40,847 year ago.Q1 Suezmax average spot rate per day $24,000 versus $38,386 year ago.Q1 EBITDA $101.3 million versus $85.8 million Reuters Poll.Q1 Suezmax average time-charter rate $23,880 versus $32,251 year ago.Says OPEC cuts impact less than forecast but owner sentiment remains challenged.Euronav CEO: "short term outlook retains cautious tone with nearly quarter of large tanker order book scheduled for delivery during q2".Euronav CEO: "short term outlook retains cautious tone with newbuilding contract activity picking up short term albeit only in the VLCC sector".So far during Q2 2017, Euronav VLCC fleet operated in the tankers international pool has earned about 32,000 USD and 42 pct of available days have been fixed.Euronav CEO: "duration of the challenging freight rate environment will be entirely dependent on the number of additional orders to build new ships that are not needed by the market".Euronav remains confident about the medium term prospects for our business and the tanker sector generally.A lower for longer tanker freight market is likely to generate challenging freight rate conditions during remainder of 2017.  Full Article

Euronav proposes FY dividend of $0.77 per share
Thursday, 16 Mar 2017 03:15am EDT 

Euronav NV :A full year gross dividend of $0.77 per share has been recommended.  Full Article

Euronav Q4 results beat Reuters poll
Thursday, 26 Jan 2017 12:09am EST 

Euronav Nv : Muted Q4 freight rate performance from extended seasonal weakness . Encouraging start for Q1 but confluence of factors likely to impact from February . Q4 revenue $ 146.3 million versus $131 million in Reuters poll . Q4 profit $50.0 million versus $27.9 million in Reuters poll . Q4 EBITDA $124.8 million versus $90.0 million in Reuters poll . Q4 VLCC average spot rate per day (in TI pool) $33,161 versus $61,482 year ago . Q4 VLCC average time charter rate $43,833 versus $41,776 year ago . Q4 Suezmax average spot rate $21,243 versus $41,596 year ago . Q4 Suezmax average time-charter rate $24,662 versus $36,042 year ago . Vessel supply in totality remains a manageable factor but increased pockets of supply would periodically have a detrimental effect. . So far during q1 2017, the euronav vlcc fleet operated in the tankers international pool has earned about 48,098 usd and 48 pct of the available days have been fixed . So far during Q1 2017, Euronav’s Suezmax fleet trading on the spot market has earned about $24,070 per day on average with 41.5 pct of the available days fixed. .Board proposes for approval of the AGM a final full year dividend of $0.77 per share.  Full Article

Euronav enters into sale and leaseback agreement for four VLCC vessels
Thursday, 5 Jan 2017 02:45am EST 

Euronav NV : Entered into a five-year sale and leaseback agreement for four VLCC vessels with Investment Vehicles advised by Wafra Capital Partners Inc. . Transaction assumes a net en-bloc purchase price of 186 million dollars . Transaction produced a capital gain of about 37 million dollars and the transaction should be booked as an operating lease under IFRS . As per co's dividend policy, this capital gain will not be eligible for dividend distribution . After repayment of the existing debt, the transaction generated in excess of 100 million dollar free cash . Vessels were delivered to their new owners, the Investment Vehicles advised by Wafra Capital Partners Inc. on Dec 22, 2016 . Leased back four vessels, built by Dalian Shipbuilding Industry, under five year bareboat contract at average rate of 22,000 dollars per day per vessel .Pareto Securities advised co on this transaction.  Full Article

Euronav buys out joint venture partner for full control of VLCC V.K. Eddie
Wednesday, 2 Nov 2016 03:09am EDT 

Euronav NV : Buys out joint venture partner for full control of VLCC V.K. Eddie . Has agreed to purchase the 50 pct of the joint venture it does not own in the VLCC V.K. Eddie . Will buy the vessel from the joint venture company at a price of USD 39 million and will receive back 50 pct of the proceeds. .Joint venture partner, Oak Maritime (Canada) Inc., has agreed for delivery of the Daewoo-built vessel to our full control in mid-November..  Full Article

Euronav announces deferral of VLCC resale deliveries into Q1 2017
Friday, 14 Oct 2016 02:10am EDT 

Euronav NV : Announces it has agreed with Hyundai Heavy Industries (HHI) <009540.KS> shipyard in South Korea to defer the delivery of the two VLCC ex-yard resale vessels it recently purchased to the first quarter of 2017 . Vessels, previously expected to be delivered between October and November 2016, will now be delivered in January 2017 .Amount of approximately USD 97 million expected to be paid to shipyard during Q4 2016 is now expected to be paid in Q1 2017.  Full Article

Asia Tankers-Fall in VLCC rates may have bottomed on owners' resistance

* Without scrapping, downward rate pressure will continue -Euronav CEO