Intrinsic value of Euronav - EURN

Previous Close

$8.33

  Intrinsic Value

$2.90

stock screener

  Rating & Target

str. sell

-65%

Previous close

$8.33

 
Intrinsic value

$2.90

 
Up/down potential

-65%

 
Rating

str. sell

We calculate the intrinsic value of EURN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  566
  579
  594
  611
  629
  649
  671
  695
  721
  749
  778
  810
  844
  879
  917
  958
  1,000
  1,045
  1,093
  1,143
  1,196
  1,252
  1,311
  1,373
  1,438
  1,507
  1,579
  1,655
  1,736
  1,820
Variable operating expenses, $m
  388
  397
  407
  419
  432
  445
  461
  477
  495
  514
  534
  556
  579
  603
  629
  657
  686
  717
  750
  784
  820
  859
  899
  942
  986
  1,034
  1,083
  1,136
  1,191
  1,248
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  388
  397
  407
  419
  432
  445
  461
  477
  495
  514
  534
  556
  579
  603
  629
  657
  686
  717
  750
  784
  820
  859
  899
  942
  986
  1,034
  1,083
  1,136
  1,191
  1,248
Operating income, $m
  178
  182
  186
  192
  198
  204
  211
  218
  226
  235
  244
  254
  265
  276
  288
  301
  314
  328
  343
  359
  376
  393
  412
  431
  452
  473
  496
  520
  545
  571
EBITDA, $m
  411
  420
  431
  443
  457
  472
  488
  505
  524
  544
  565
  588
  613
  639
  666
  695
  726
  759
  793
  830
  868
  909
  952
  997
  1,044
  1,094
  1,147
  1,202
  1,260
  1,322
Interest expense (income), $m
  0
  49
  50
  51
  52
  53
  55
  57
  59
  61
  63
  65
  68
  70
  73
  76
  80
  83
  87
  91
  95
  99
  104
  108
  113
  119
  124
  130
  137
  143
  150
Earnings before tax, $m
  129
  132
  136
  140
  144
  149
  154
  160
  166
  172
  179
  187
  194
  203
  212
  221
  231
  241
  252
  264
  276
  289
  303
  318
  333
  349
  366
  383
  402
  421
Tax expense, $m
  35
  36
  37
  38
  39
  40
  42
  43
  45
  47
  48
  50
  52
  55
  57
  60
  62
  65
  68
  71
  75
  78
  82
  86
  90
  94
  99
  103
  109
  114
Net income, $m
  94
  97
  99
  102
  105
  109
  113
  117
  121
  126
  131
  136
  142
  148
  154
  161
  169
  176
  184
  193
  202
  211
  221
  232
  243
  255
  267
  280
  293
  308

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,788
  2,852
  2,925
  3,007
  3,099
  3,199
  3,308
  3,425
  3,553
  3,689
  3,835
  3,990
  4,156
  4,332
  4,519
  4,717
  4,927
  5,148
  5,383
  5,630
  5,891
  6,166
  6,456
  6,762
  7,084
  7,423
  7,779
  8,155
  8,550
  8,965
Adjusted assets (=assets-cash), $m
  2,788
  2,852
  2,925
  3,007
  3,099
  3,199
  3,308
  3,425
  3,553
  3,689
  3,835
  3,990
  4,156
  4,332
  4,519
  4,717
  4,927
  5,148
  5,383
  5,630
  5,891
  6,166
  6,456
  6,762
  7,084
  7,423
  7,779
  8,155
  8,550
  8,965
Revenue / Adjusted assets
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
Average production assets, $m
  2,449
  2,506
  2,570
  2,642
  2,722
  2,810
  2,906
  3,010
  3,121
  3,241
  3,369
  3,506
  3,651
  3,806
  3,970
  4,144
  4,329
  4,523
  4,729
  4,946
  5,176
  5,417
  5,672
  5,941
  6,224
  6,521
  6,835
  7,165
  7,512
  7,877
Working capital, $m
  77
  79
  81
  83
  86
  88
  91
  95
  98
  102
  106
  110
  115
  120
  125
  130
  136
  142
  149
  155
  163
  170
  178
  187
  196
  205
  215
  225
  236
  248
Total debt, $m
  917
  938
  961
  988
  1,017
  1,050
  1,085
  1,123
  1,164
  1,208
  1,255
  1,305
  1,359
  1,416
  1,476
  1,540
  1,608
  1,679
  1,755
  1,835
  1,919
  2,008
  2,102
  2,200
  2,304
  2,414
  2,529
  2,650
  2,778
  2,912
Total liabilities, $m
  900
  921
  945
  971
  1,001
  1,033
  1,068
  1,106
  1,147
  1,191
  1,239
  1,289
  1,342
  1,399
  1,460
  1,524
  1,591
  1,663
  1,739
  1,818
  1,903
  1,992
  2,085
  2,184
  2,288
  2,398
  2,513
  2,634
  2,762
  2,896
Total equity, $m
  1,887
  1,931
  1,980
  2,036
  2,098
  2,165
  2,239
  2,319
  2,405
  2,497
  2,596
  2,701
  2,814
  2,933
  3,059
  3,193
  3,335
  3,485
  3,644
  3,811
  3,988
  4,174
  4,371
  4,578
  4,796
  5,025
  5,267
  5,521
  5,788
  6,069
Total liabilities and equity, $m
  2,787
  2,852
  2,925
  3,007
  3,099
  3,198
  3,307
  3,425
  3,552
  3,688
  3,835
  3,990
  4,156
  4,332
  4,519
  4,717
  4,926
  5,148
  5,383
  5,629
  5,891
  6,166
  6,456
  6,762
  7,084
  7,423
  7,780
  8,155
  8,550
  8,965
Debt-to-equity ratio
  0.490
  0.490
  0.490
  0.490
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
Adjusted equity ratio
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677
  0.677

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  94
  97
  99
  102
  105
  109
  113
  117
  121
  126
  131
  136
  142
  148
  154
  161
  169
  176
  184
  193
  202
  211
  221
  232
  243
  255
  267
  280
  293
  308
Depreciation, amort., depletion, $m
  233
  239
  245
  252
  259
  268
  277
  287
  297
  309
  321
  334
  348
  362
  378
  395
  412
  431
  450
  471
  493
  516
  540
  566
  593
  621
  651
  682
  715
  750
Funds from operations, $m
  328
  335
  344
  354
  365
  376
  389
  403
  418
  434
  452
  470
  490
  511
  533
  556
  581
  607
  635
  664
  695
  727
  761
  798
  836
  876
  918
  962
  1,009
  1,058
Change in working capital, $m
  2
  2
  2
  2
  3
  3
  3
  3
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  11
Cash from operations, $m
  326
  333
  342
  351
  362
  374
  386
  400
  415
  431
  448
  466
  485
  506
  527
  551
  575
  601
  628
  657
  688
  720
  753
  789
  827
  866
  908
  952
  998
  1,046
Maintenance CAPEX, $m
  -229
  -233
  -239
  -245
  -252
  -259
  -268
  -277
  -287
  -297
  -309
  -321
  -334
  -348
  -362
  -378
  -395
  -412
  -431
  -450
  -471
  -493
  -516
  -540
  -566
  -593
  -621
  -651
  -682
  -715
New CAPEX, $m
  -47
  -56
  -64
  -72
  -80
  -88
  -96
  -104
  -112
  -120
  -128
  -137
  -146
  -155
  -164
  -174
  -184
  -195
  -206
  -217
  -229
  -242
  -255
  -269
  -283
  -298
  -313
  -330
  -347
  -365
Cash from investing activities, $m
  -276
  -289
  -303
  -317
  -332
  -347
  -364
  -381
  -399
  -417
  -437
  -458
  -480
  -503
  -526
  -552
  -579
  -607
  -637
  -667
  -700
  -735
  -771
  -809
  -849
  -891
  -934
  -981
  -1,029
  -1,080
Free cash flow, $m
  50
  44
  39
  34
  30
  26
  23
  20
  17
  14
  11
  8
  6
  3
  1
  -2
  -4
  -6
  -8
  -11
  -13
  -15
  -17
  -20
  -22
  -24
  -27
  -29
  -31
  -34
Issuance/(repayment) of debt, $m
  18
  21
  24
  27
  29
  32
  35
  38
  41
  44
  47
  50
  54
  57
  60
  64
  68
  72
  76
  80
  84
  89
  94
  99
  104
  109
  115
  121
  128
  134
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  18
  21
  24
  27
  29
  32
  35
  38
  41
  44
  47
  50
  54
  57
  60
  64
  68
  72
  76
  80
  84
  89
  94
  99
  104
  109
  115
  121
  128
  134
Total cash flow (excl. dividends), $m
  68
  65
  63
  61
  60
  59
  58
  58
  58
  58
  58
  58
  59
  60
  61
  62
  64
  65
  67
  69
  71
  74
  76
  79
  82
  85
  89
  92
  96
  100
Retained Cash Flow (-), $m
  -41
  -43
  -50
  -56
  -62
  -68
  -74
  -80
  -86
  -92
  -99
  -105
  -112
  -119
  -127
  -134
  -142
  -150
  -159
  -167
  -177
  -186
  -196
  -207
  -218
  -229
  -242
  -254
  -267
  -281
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  27
  21
  13
  5
  -2
  -9
  -16
  -22
  -28
  -35
  -41
  -47
  -53
  -59
  -65
  -72
  -78
  -85
  -91
  -98
  -105
  -113
  -120
  -128
  -136
  -144
  -153
  -162
  -171
  -181
Discount rate, %
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
  26
  19
  11
  4
  -1
  -6
  -9
  -12
  -14
  -15
  -16
  -16
  -15
  -15
  -14
  -12
  -11
  -10
  -8
  -7
  -6
  -5
  -4
  -3
  -2
  -2
  -1
  -1
  -1
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of March 24, 2016, it owned and operated a fleet of 55 vessels, including 30 very large crude carriers, 1 ultra large crude carrier, 22 Suezmax vessels, and 2 floating, storage, and offloading vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.

FINANCIAL RATIOS  of  Euronav (EURN)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

EURN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EURN stock intrinsic value calculation we used $554.808 million for the last fiscal year's total revenue generated by Euronav. The default revenue input number comes from 0001 income statement of Euronav. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EURN stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.6%, whose default value for EURN is calculated based on our internal credit rating of Euronav, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Euronav.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EURN stock the variable cost ratio is equal to 68.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for EURN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Euronav.

Corporate tax rate of 27% is the nominal tax rate for Euronav. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EURN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EURN are equal to 432.8%.

Life of production assets of 10.5 years is the average useful life of capital assets used in Euronav operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EURN is equal to 13.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1846.361 million for Euronav - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 159.209 million for Euronav is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Euronav at the current share price and the inputted number of shares is $1.3 billion.

RELATED COMPANIES Price Int.Val. Rating
TNP Tsakos Energy 3.26 4.32  buy
TNK Teekay Tankers 1.06 0.92  hold
DHT DHT Holdings 4.61 1.61  str.sell
FRO Frontline 5.93 2.50  str.sell

COMPANY NEWS

▶ Euronav NV to Host Earnings Call   [Aug-09-18 06:00AM  ACCESSWIRE]
▶ When Should You Buy Euronav NV (EBR:EURN)?   [May-24-18 06:26AM  Simply Wall St.]
▶ Are Euronav NVs (EBR:EURN) Interest Costs Too High?   [May-17-18 03:56AM  Simply Wall St.]
▶ Euronav NV to Host Earnings Call   [Apr-25-18 06:00AM  ACCESSWIRE]
▶ Tanker Stocks In Focus At Morgan Stanley   [Feb-13-18 02:28PM  Benzinga]
▶ Key Updates from the Crude Tanker Industry Last Week   [Jan-25-18 09:04AM  Market Realist]
▶ Where Are Bunker Fuel Prices Heading?   [Jan-24-18 05:40PM  Market Realist]
▶ How Crude Tanker Rates Moved Last Week   [04:08PM  Market Realist]
▶ Euronav: Analysts Recommendations before Its 4Q17 Results   [Jan-23-18 07:35AM  Market Realist]
▶ Euronav: Where Do Analysts View Its 4Q17 EBITDA?   [Jan-22-18 03:20PM  Market Realist]
▶ Was Chinas December PMI Data Positive for Crude Tankers?   [Jan-19-18 12:55PM  Market Realist]
▶ Analyzing Bunker Fuel Prices in Week 2   [Jan-16-18 01:40PM  Market Realist]
▶ Suezmax and Aframax Rates Fell in Week 2   [12:05PM  Market Realist]
▶ Oil Price Reach 3-Year High: What about Bunker Fuel Prices?   [Jan-11-18 12:55PM  Market Realist]
▶ Euronav: Analysts Target Price and Estimates   [Jan-03-18 11:55AM  Market Realist]
▶ Week 51: Crude and Bunker Fuel Prices   [Dec-28-17 09:03AM  Market Realist]
▶ Why Gener8 Maritime Partners Rose Steeply Last Week   [Dec-27-17 01:14PM  Market Realist]
▶ Euronav NV Value Analysis (NYSE:EURN) : December 26, 2017   [Dec-26-17 12:52PM  Capital Cube]
▶ Top 2 Crude Tanker Stocks: Analysts Recommendations   [Dec-25-17 10:31AM  Market Realist]
▶ Euronav: Best Performing Stock in 2017 among Crude Tankers   [Dec-22-17 11:34AM  Market Realist]
▶ Week 50: Crude Prices Touch $65   [Dec-20-17 12:05PM  Market Realist]
▶ ETFs with exposure to Euronav NV : December 19, 2017   [Dec-19-17 12:56PM  Capital Cube]
▶ US Crude Oil Exports to China: Highest in November   [Dec-14-17 02:55PM  Market Realist]
▶ Chinas Crude Oil Imports Are at Record Levels   [01:25PM  Market Realist]
▶ Euronav Continued to Sell Its Old Vessels   [Dec-13-17 07:34AM  Market Realist]
▶ Euronav, DHT Holdings Selling Their Old Vessels   [Dec-01-17 09:04AM  Market Realist]
▶ Week 47: Crude Tanker Industry Update   [Nov-30-17 03:36PM  Market Realist]
▶ Frontlines Stock Has Fallen 10.5% in November   [10:10AM  Market Realist]
▶ Chinas Crude Oil Imports: Lowest in the Last 13 Months   [Nov-28-17 03:00PM  Market Realist]
▶ ETFs with exposure to Euronav NV : November 27, 2017   [Nov-27-17 01:27PM  Capital Cube]
▶ Bunker Fuel Prices Fell in Week 46   [Nov-21-17 04:10PM  Market Realist]
▶ Sneak Peek into Frontlines Upcoming 3Q17 Results   [Nov-17-17 11:51AM  Market Realist]
▶ Where Bunker Fuel Prices Are Headed, Oil Prices Crossed $60   [Nov-09-17 11:55AM  Market Realist]
▶ Euronav: Analyst Recommendations after 3Q17   [Nov-07-17 09:01AM  Market Realist]
▶ Key Highlights from Euronavs Balance Sheet   [07:32AM  Market Realist]
▶ Euronav in 3Q17: A Look at Costs and Earnings   [Nov-06-17 11:05AM  Market Realist]
▶ Euronav NV to Host Earnings Call   [Oct-31-17 06:20AM  ACCESSWIRE]
▶ Did Bunker Fuel Prices Rise in Week 42?   [Oct-27-17 02:35PM  Market Realist]
▶ Week 41: Where Are Crude and Bunker Fuel Prices Heading?   [Oct-18-17 03:06PM  Market Realist]
▶ Where Bunker Fuel Prices Are Headed in Week 40   [Oct-11-17 03:06PM  Market Realist]
▶ Why Analysts Are Dropping Euronav from Coverage   [Oct-09-17 11:36AM  Market Realist]
▶ Don't Get Excited About Spike in U.S. Oil Exports   [Oct-06-17 04:00PM  TheStreet.com]
▶ Bunker Fuel Prices Rose, Oil Hit a 2-Year High in Week 39   [Oct-03-17 05:06PM  Market Realist]
▶ Why Crude Tanker Rates Fell in the Third Quarter of 2017   [Sep-29-17 05:36PM  Market Realist]
▶ Crude and Bunker Fuel Prices Rose in Week 38   [Sep-28-17 10:39AM  Market Realist]
▶ Week 38: Crude Tanker Industry Update   [07:40AM  Market Realist]
▶ Week 37: Bunker Fuel Prices Rose   [Sep-20-17 02:06PM  Market Realist]
▶ Chinas August Trade Data Impacted the Crude Tanker Industry   [Sep-15-17 08:07AM  Market Realist]
▶ Why Bunker Fuel and Crude Oil Prices Rose in Week 36   [Sep-13-17 04:36PM  Market Realist]
▶ Analysts Recommendations for Crude Tankers in Week 34   [Sep-01-17 07:37AM  Market Realist]
▶ Crude Tanker Index and Stocks Rose in Week 34   [Aug-31-17 10:37AM  Market Realist]
▶ ETFs with exposure to Euronav NV : August 28, 2017   [Aug-28-17 05:14PM  Capital Cube]
▶ Crude Tanker Stocks Fall in Week 33 of 2017   [Aug-23-17 02:58PM  Market Realist]
▶ Crude Oil and Bunker Fuel Prices Went This Way Last Week   [Aug-18-17 02:36PM  Market Realist]
▶ Key Highlights from Euronavs Balance sheet   [07:37AM  Market Realist]
▶ Behind Euronavs New Fixed Dividend Policy   [Aug-17-17 10:37AM  Market Realist]
▶ How Euronavs Costs and Earnings Fared in 2Q17   [09:07AM  Market Realist]
▶ Dissecting Euronavs 2Q17 Revenue   [07:37AM  Market Realist]
▶ Inside Euronavs 2Q17 Results   [04:13PM  Market Realist]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.