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 October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Traders Eye Floating Diesel Storage in Atlantic

Europe diesel stocks reach fresh record high; huge imports from Asia, Middle East weigh on supplies. Oil traders are preparing to store diesel in giant tankers

Shell Want Shipper Guarantees on Nigerian Crude Exports

Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a "letter of comfort" (LoC) to guarantee it is not stolen, according to an email from the company seen by Reuters.

ICCOPR Approves Updated Oil Pollution Research Plan

The Interagency Coordinating Committee on Oil Pollution Research (ICCOPR) unanimously approved the Oil Pollution Research & Technology Plan (OPRTP) for FY2015-2021

Patrol Boats

U.S. Will Dispatch Warships to South China Sea

The United States is expected to sail warships close to China's artificial islands in the South China Sea within the next two weeks to signal it does not recognize

Indonesia, Australia on Joint Sea Patrol to Combat Illegal Fishing

Indonesian and Australian authorities have signed an agreement to combat illegal, unreported and unregulated (IUU) fishing and to promote sustainable fisheries governance across the region.

ECDIS Ordered for 20 Indonesia Surveillance Vessels

Transas ECDIS has been selected for installation on board 20 surveillance vessels under operation of the Directorate General of Marine Resources and Fisheries Surveillance,

Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair
rss | archive | history | articles | privacy | 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: 0.2336 sec (4 req/sec)