Brief: Euronav Records EBITDA Of USD 261.2 Million In Q2

CMB.TECH NV

08/08/2024 06:37

Aug 8 (Reuters) - 
  
    * Q2 RESULTS - TRANSFORMATION IN FULL SWING
    * PROFIT OF USD 184.4 MLN IN Q2 2024
    * PAYMENT OF 4.57 USD/SHARE DIVIDEND IN Q2 2024
    * Q2 NET GAIN OF USD 184.4 MLN OR USD 0.95 PER SHARE
    * Q2 EBITDA (A NON-IFRS MEASURE) USD 261.2 MLN (Q2 2023: USD
247.6
MLN)
    * ANNOUNCES EXPANSION OF FLEET OF WINDCAT OFFSHORE WITH AN
ADDITIONAL COMMISSIONING SERVICE OPERATIONS VESSEL (CSOV) ON
ORDER
    * DELIVERY OF FIRST CSOV IS SCHEDULED FOR NEXT YEAR
    * ENTERED INTO AN AGREEMENT WITH A SUBSIDIARY OF TOTAL
ENERGIES TO
SELL VLCC ALSACE (2012 - 299,999 DWT) FOR AN FPSO CONVERSION
PROJECT
    * VESSEL IS EXPECTED TO BE DELIVERED TO ITS NEW OWNER IN Q1
2025
AND A CAPITAL GAIN OF APPROXIMATELY USD 27.5 MLN WILL BE BOOKED
IN Q1 2025
    * LOOKING FORWARD TO SECOND HALF OF 2024, A CHANGE IN U.S.
PRESIDENCY COULD IMPACT GLOBAL GEOPOLITICS, WITH OCEAN SHIPPING
AT FOREFRONT OF ANY SHIFTS IN CURRENT STATUS QUO
    * A MORE AGGRESSIVE STANCE AGAINST CHINA AND POTENTIAL
INCREASE IN
TRADE TARIFFS WOULD NEGATIVELY AFFECT GLOBAL TRADE AND,
CONSEQUENTLY, SHIPPING
    * LOOKING FORWARD, Q3 STARTED STRONG FOR TANKER (SUEZMAX),
DRY-BULK, CONTAINER, CHEMICAL AND OFFSHORE WIND MARKETS
    * GLOBAL SEABORNE TRADE IN TONNE-MILE TERMS IS STILL ON
TRACK TO
INCREASE BY +5.1% BY YEAR-END
    * RED SEA RE-ROUTING ALONE ESTIMATED TO CONTRIBUTE
APPROXIMATELY
+3.0% TO TONNE-MILE TRADE GROWTH
    * SHIPPING INDUSTRY IS CURRENTLY EXPERIENCING SOME OF THE
HIGHEST
RETURNS IN DECADES, WITH EXPECTATIONS FOR THIS CYCLE TO CONTINUE
IN THE COMING YEARS
    * LOOKING AHEAD TO Q3 2024, THE POSSIBILITY OF WEAKENING
SUMMER
DEMAND CASTS UNCERTAINTY OVER FIRMER RATES

Source text: https://tinyurl.com/2aw3757r
Further company coverage:  CMBT.BR 

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