Euronav posts net loss of $10.7m for Q1, 2013
The executive committee of Euronav NV (EURN) on April 16, 2013 reported its preliminary financial results under IFRS (International Financial Reporting Standards) for the three months ended 31st March 2013.
According to the report Euronav had a net loss of -US$10.7 million for the Q1 2013, or -US$0.21 per share (Q1, 2012: -$9 m and -$0.18 per share). EBITDA for the same period was US$ 43.5 m (Q1 2012: $47.8 million).
Euronav is one of the world's leading independent tanker companies engaged in the ocean transportation and storage of crude oil and petroleum products. The company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav’s owned fleet, consists of 36 double hulled vessels being 1 V-Plus, 2 FSO vessels (both owned in 50%-50% joint venture), 11 VLCCs (of which 2 in joint venture), 22 Suezmaxes (of which 4 in joint venture). Euronav vessels mainly fly Belgian, Greek and French flags.
