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Euronav NV (EUAV.BR)

EUAV.BR on Brussels Stock Exchange

7.37EUR
23 Mar 2017
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Latest Key Developments (Source: Significant Developments)

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

Euronav reports Q2 net profit of $153.7 million
Thursday, 25 Aug 2016 02:13am EDT 

Euronav NV : Q2 net profit $153.7 million versus $62.0 million in Reuters poll . Q2 EBITDA $106 million versus $119 million in Reuters poll . Q2 revenue $189.6 million versus $176 million in Reuters poll . Says Q3 tanker trading remains weak in line with seasonal trading pattern – now likely to impact into Q4 . Interim dividend of $0.55 to be paid in September . Says "the third quarter is proving to be challenging" .Says "it is anticipated that the current market conditions will impact the fourth quarter".  Full Article

Euronav Q2 revenue of $189.6 million above estimates
Thursday, 28 Jul 2016 12:25am EDT 

Euronav Nv : Q2 revenue $189.6 million versus $176 million in Reuters poll . Q2 EBITDA $106.0 million versus $119 million in reuters poll . Q2 net profit $40.1 million versus $62.0 million in Reuters poll . Q2 profits affected for non-recurring charge related to suezmax joint ventures termination . Q2 VLCC average spot rate (in TI Pool) $47,864 versus $55,570 a year ago . Q2 VLCC average time-charter rate $44,382 versus $38,148 a year ago . Q2 suezmax average time-charter rate $26,363 versus $35,258 year ago . Q2 suezmax average spot rate $33,119 versus $41,886 a year ago . So far in Q3, the Euronav VLCC fleet operated in the tankers international pool has earned about $31,800/day, 50 pct of available days fixed . Suezmax trading on the spot market have earned about $20,900 per day on average with 39 pct of the available days fixed for the third quarter of 2016 . Believes current condition of lower seasonal freight rates are exacerbated by some short term disruptive factors and could persist through Q3 . The fall in the value of tanker prices that continued during Q2, has been interpreted as a confirmation that the freight rate cycle has peaked . Seasonal adjustment in freight rates has been exacerbated by combination of factors acting simultaneously to press freight rates lower . Anticipates a seasonal rate recovery into Q4 supported by recent upgrades in anticipated crude demand (IEA) and current disrupting market factors dissipating.  Full Article

Euronav, Diamond S Shipping and Frontline join in Suezmax Chartering joint venture
Thursday, 2 Jun 2016 11:46am EDT 

Euronav NV : Euronav, Diamond S Shipping and Frontline join in Suezmax Chartering joint venture . Aim of the joint venture is to create a single point of contact for cargo owners to access Suezmax vessels, including newbuildings, operated on the spot market .Joint venture will commence operation on June 2 from the existing offices of Euronav, Diamond S and Frontline Management As.  Full Article

Euronav announces termination of Suezmax joint venture
Friday, 20 May 2016 02:17am EDT 

Euronav NV : Euronav announces termination of Suezmax joint venture . Euronav will assume full ownership of two youngest vessels, Captain Michael and Maria . Bretta will assume full ownership of Eugenie and Devon . Euronav will compensate its partner for difference in value due to younger age profile of ships it will own .Will pay Bretta sum of $15.1 million upon closing transaction which is foreseen to take place in current quarter.  Full Article

Euronav to pay FY 2015 dividend
Thursday, 17 Mar 2016 03:00am EDT 

Euronav NV:Dividend of $0.82 per share in line with our return to shareholders policy.  Full Article

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BRIEF-Euronav NV announces Q4 net profit of $50 mln

* Q4 VLCC average spot rate per day (in TI pool) $ 33,161 versus $61,482 year ago Source text for Eikon: Further company coverage: