Euronav reports higher earnings

Euronav reports higher earnings Antwerp-based tanker owner Euronav reported net income of $135.5 million in the first half of 2007 compared to $124.7 million in the first half of 2006.
   Revenues were $329 million in the six months ending June 30, down from $349 million in the same 2006 period.
   Euronav is an independent tanker company that hauls crude oil and petroleum products. The company’s modern fleet comprises full or partial interests in 25 very large crude carriers (VLCCs), 12 of which are chartered in from third parties. It also owns two ultra-large crude carriers. The ULCCs have a capacity of 441,893 dwt whereas the VLCCs range in size from 296,230 dwt to 318,658 dwt.
   Euronav owns and also operates 14 Suezmaxes and 2 Aframaxes on bareboat charter. It also has four Suezmaxes under construction.