Belgian oil tanker and storage operator Euronav EUAV.BR on Thursday reported a sharp rise in its quarterly earnings, citing a substantial improvement in freight markets.
The group’s proportionate earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in at $74.9 million in the second quarter, up from $22.6 million a year earlier.
Its net loss for the period narrowed to $4.9 million, against a loss of $89.7 million last year.
Source: Reuters (Reporting by Juliette Portala, editing by Milla Nissi)