Belgian tanker company Euronav has announced a net income of US$59.3 million for the last six months ending June 2010. EBITDA for the same period was US$185.9 million up from last year's US$125.2 million.
These results have been aided by the sale of the 'Namur' on March 22, 2010, which resulted in a capital gain of US$14.3 million for the company.
In recent weeks the market has softened noticeably, according to the company.
"With demand typically increasing towards the end of the third and during the fourth quarter due to both weather disruptions and seasonal heating demand, the outlook for the rest of the year remains positive," said the company in a statement
Euronov's FSOs (Floating, Storage and Offloading) are the largest double-hulled FSO in the world and are owned by joint ventures in which OSG and Euronav each have a 50 percent interest. The FSO 'Asia' is currently being operated at the Al Shaheen oilfield offshore Qatar while the FSO 'Africa' remains unemployed.
{WISroYQ symbol='EURN.BR'}
