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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Daewoo Shipyard Posts Q1 Operating Loss

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. posted a first-quarter loss after incurring more costs to finish some offshore projects.   First-quarter

Yilport Acquires Sweden's Gavle Terminal

Turkish terminal operator Yilport Holding has gained full control of Gävle’s terminals.   Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG).

USCG Foundation Run to Remember Events Announced

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of Coast Guard members and their families, announced this year’s Run

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators Sonar Winch
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: 0.0700 sec (14 req/sec)