Euronav swings to loss expect freight rate squeeze until late 2021

//Euronav swings to loss expect freight rate squeeze until late 2021

Euronav swings to loss expect freight rate squeeze until late 2021

Belgium’s Euronav expects pressure on freight rates to continue until late 2021, the tanker operator said as it reported weaker than expected quarterly results on Thursday, citing OPEC+ export cuts because of the COVID-19 pandemic’s impact on demand for oil.

Euronav swung to a fourth-quarter net loss of $58.7 million, against an average forecast of a $41.8 million loss in a Refinitiv poll of analysts.

Source: Hellenic Shipping News Worldwide

By | 2021-02-08T11:50:38+05:30 February 8th, 2021|Uncategorized|0 Comments

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