Antwerp, Belgium - 7 May 2020
• Strong underlying tanker dynamics drive record quarterly results
• Robust freight market improved by record contango price structure & storage requirements
• Q2 trading VLCC rates so far USD 95,000 per day; Suezmax USD 65,500 per day
• Q1 dividend and 2019 final dividend (USD 0.81 and USD 0.29 totaling USD1.10) to be paid June 2020
Hugo De Stoop, CEO of Euronav said: “The past few months have seen a number of disruptive and seismic events simultaneously impactingon the widercrude and tanker markets. Most importantly our primary focus has been on the wellbeing, protection and safetyof our staff, seafarersand their familiesin the face of the threat from Covid-19. So far, the gyrations in the crude market have largely had positive implications for the crude tanker market.
Euronav NV press release