Euronav: Third-Best Performer among Crude Tanker Stocks


Aug. 18 2020, Updated 5:33 a.m. ET

YTD performance

Euronav’s (EURN) YTD (year-to-date) returns were -9.2% as of April 5, 2018. Euronav is the third-best performer among its peers on a YTD basis behind DHT Holdings (DHT) and Frontline (FRO) with YTD returns of 1.1% and -1.5%, respectively. Euronav has outperformed the shipping ETF but underperformed the broad equity market indexes. Since the beginning of 2018, the Guggenheim Shipping ETF (SEA) has fallen 10%. Oil and gas transportation companies account for 47.7% of SEA. The Dow Jones Industrial Average (DIA) has fallen 2% YTD as of April 5, 2018. The SPDR S&P 500 ETF (SPY) has fallen 1.2% during the same period.

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Euronav’s fleet

Euronav is an independent tanker company that transports and stores crude oil. Euronav operates its fleet in the spot and period market. The company owns and operates a fleet of 54 double-hulled vessels.

4Q17 highlights

The crude tanker industry’s freight market remained challenging. Positive winter market trends were offset by new tonnage supply and OPEC’s oil export cuts. Euronav’s (EURN) revenues and EBITDA (earnings before interest, tax, depreciation, and amortization) fell year-over-year in 4Q17. The company sold three vessels in the fourth quarter, which generated $36.5 million in capital gains. Euronav announced the merger with Gener8 Maritime Partners (GNRT) in 4Q17.

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Next, we’ll discuss Gener8 Maritime Partners’ (GNRT) stock performance and 4Q17 highlights. Gener8 Maritime Partners is the fourth-best performer on a YTD basis among crude tankers.


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