Earnings call: Euronav posts record Q4 profit with strategic sales

Euronav NV (NYSE:EURN) has reported a record profit for the fourth quarter, with earnings significantly bolstered by the sale of vessels to Frontline (NYSE:FRO). The company's underlying profit for the quarter was strong at $88 million, supported by a healthy freight market.Despite these gains, Euronav has opted to withhold Q4 dividend payments until after a mandatory offer period concludes, with a future dividend policy set to be discretionary. The company has also expanded its fleet with the addition of two new very large crude carriers (VLCCs), and has secured new long-term charters, promising a robust outlook.

Source : investing




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