Belgium’s Euronav has logged huge earnings in its first quarterly report since taking over the controlling Saverys family’s green shipowner CMB.Tech.
The New York and Brussels-listed tanker owner reported results from lower-carbon bulkers, boxships and offshore vessels for the first time in the first quarter.
Net profit was $495m, up from $175m a year ago, despite revenue shrinking to $240m from $340m as tanker rates dropped.
