Euronav Announces Record Results

Tuesday, April 18, 2006
The executive committee of Euronav NV reported its financial results for the three months ended March 31, 2006. The company had net income of $93.5 million (2005: $80.8 million) or $1.78 (2005: $1.92) per share, for the three months ended March 31, 2006. This is the highest result for a first quarter ever. EBITDA for the same period was $141.3 million (2005: $98.7 million).

The average daily time charter equivalent rates, or TCE, obtained by the company’s owned fleet in the Tankers International pool was approximately $82,500/day.

In the first quarter 2006, Euronav also announced that it signed a contract with Hyundai Heavy Industries Co, Ltd (HHI) of Korea to build two 318,000 dwt Very Large Crude Carriers to be delivered in the first quarter of 2009. In accordance with the company’s strategy to have part of its fleet on long term time charter contracts, Euronav also made an agreement to fix out a Suezmax for a period of three years, starting in November 2006, increasing therefore the cover ratio from that moment onwards.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

Moore Stephens Expects Vessel Operating Cost to Rise

Vessel operating costs are expected to rise by almost three per cent in both 2014 and 2015, according to a new survey by international accountant and shipping consultant Moore Stephens.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2127 sec (5 req/sec)