Q1 2019 Highlights - VLCC average spot rate in TI Pool was $35,195 per day, compared to $18,725 in Q1 2018[8] - VLCC average time charter rate was $27,630 per day[8] - Suezmax average spot rate was $27,380 per day, compared to $14,000 in Q1 2018[8] - Suezmax average time charter rate was $32,680 per day[8] - In Q1 so far, VLCC 535% fixed at around $26500 per day[12] - In Q1 so far, Suezmax 493% fixed at around $18000 per day[12] Financial Performance - Revenue increased to $232589 thousand in Q1 2019 from $98136 thousand in Q1 2018[13] - Net profit for the period was $19526 thousand in Q1 2019, compared to a loss of $39091 thousand in Q1 2018[13] - Result after taxation per share was $009 in Q1 2019, compared to $(025) in Q1 2018[13] - Cash increased to $1785 million in Mar-19 from $1730 million in Dec-18[15] Market Signals - US crude export outlook shows potential for growth to 2022[18] - Correlation between Euronav share price and new build VLCC value is 84%[25] - Demand 3% Supply 3% - VLCC $35K Q4 & Q1[26] Liquidity and Leverage - Liquidity increased to $785 million[17] - Leverage is 462% marked to market[16]

Q2 2019 Highlights - VLCC average spot rate in the TI Pool was $23,218 per day, compared to $16,751 in Q2 2018[8] - VLCC average time charter rate was $27,165 per day, compared to $34,976 in Q2 2018[8] - Suezmax average spot rate was $17,217 per day, compared to $12,883 in Q2 2018[8] - Suezmax average time charter rate was $30,375 per day, compared to $20,882 in Q2 2018[8] - The company bought back shares totaling $29 million (13 cents per share) during the first half of the year[12] - A dividend of $0.06 per share for the first half of 2019 will be paid in October 2019[12] - For Q3, 65% of VLCC capacity has been fixed at approximately $20,600 per day[12] - For Q3, 58% of Suezmax capacity has been fixed at approximately $15,800 per day[12] Financial Performance - Revenue for the first semester of 2019 was $401.936 million, compared to $202.748 million in the first semester of 2018[13] - The company experienced a net loss of $38.556 million in Q2 2019, compared to a net loss of $51.602 million in Q2 2018[13] - Cash increased to $203.6 million in June 2019, compared to $173.0 million in December 2018[14] - Total liquidity increased to $858 million, including an undrawn secured revolving facility of $634 million and an undrawn unsecured credit line of $20 million[14, 16] Market Outlook and Themes - The company anticipates constructive large crude tanker market fundamentals into the winter[12] - VLCC ordering is near 5-year lows, indicating restricted contracting in large tankers[20, 21] - IMO 2020 disruption is expected to impact the market in the second half of 2019, with retrofitting potentially reducing fleet days by 3-5%[23]

Financial Performance Highlights - In Q4 2019, the average spot rate for VLCCs in the TI pool was $61,700 per day, while the average time charter rate was $35,700 per day[8] - For Suezmax vessels, the average spot rate in Q4 2019 was $41,800 per day, and the average time charter rate was $29,300 per day[8] - The company's revenue for Q4 2019 was $355.154 million, compared to $236.107 million in Q4 2018[12] - Full year 2019 revenue reached $932.377 million, a significant increase from $600.024 million in 2018[12] - Net profit for Q4 2019 was $160.801 million, a substantial improvement from $279 in Q4 2018[12] - Full year 2019 net profit was $118.868 million, compared to a loss of $110.070 million in 2018[12] Q1 2020 Outlook - For Q1 2020, approximately 60% of VLCC days have been fixed at around $89,200 per day[11] - For Q1 2020, approximately 51% of Suezmax days have been fixed at around $57,500 per day[11] Balance Sheet & Leverage - The company's leverage, based on book value, is at 44%[14] - Cash reserves stand at $297 million as of December 2019, compared to $173 million in December 2018[13] Market Dynamics & IMO 2020 - The company anticipates constructive crude tanker market fundamentals for 2020[11] - The company notes that the reduction of fuel spreads and built-in protection mechanisms[16]

Financial Performance - Revenue for Q3 2020 was $241 million[16], a significant increase compared to the year-to-date revenue of $5772 million in 2019[14] - Net income for Q3 2020 reached $462 million[16], a substantial turnaround from a loss of $419 million year-to-date in 2019[14] - Euronav's leverage stands at 358% of book value, with available liquidity of $12 billion[19] Fleet and Operations - VLCC average spot pool rate was $42000 per day in Q3 2020, compared to $25250 in Q3 2019[8] - Suezmax average spot rate was $23500 per day in Q3 2020, versus $17250 in Q3 2019[8] - The company extended an FSO contract by 10 years to 2032, projecting $645 million in additional revenue for the joint venture[11, 34] Capital Allocation - The company declared a Q3 dividend of USD 9c per share and executed a share buyback of $185 million[11] - Year-to-date dividend yield reached 21%, with $157 per share distributed[13] - Euronav has $236 million in outstanding capex, primarily financed by bank loans, with VLCC deliveries expected in Q1 2021[13] Market Outlook - Approximately 50% of Q4 VLCC days are fixed at around $225k per day, and 45% of Suezmax days are fixed at about $115k per day[11] - The tanker market remains in a transition phase, influenced by COVID-19 restrictions, OPEC+ supply cuts, and vessel supply[35, 36] - Recycling trends indicate that when VLCC rates fall below P&L breakeven, approximately 5% of the fleet is typically recycled[22]

Financial Performance - Revenue decreased significantly from $416.7 million in Q1 2020 to $113.4 million in Q1 2021[12] - The company reported a net loss of $71 million in Q1 2021, compared to a profit of $225.6 million in Q1 2020[12] - Euronav's leverage to book value is at 41.8%[14] - The company maintains access to liquidity greater than $1 billion[14] Operational Highlights - VLCC average spot rate in TI pool decreased from $61,700 per day in Q1 2020 to $14,000 per day in Q1 2021[8] - Suezmax average spot rate decreased from $41,500 per day in Q1 2020 to $11,500 per day in Q1 2021[8] - For Q2 so far, 48% of VLCC capacity is fixed at around $10,000 per day[11] - For Q2 so far, 41% of Suezmax capacity is fixed at around $10,500 per day[11] - The company completed 8 dry dockings in Q1 and another 8 in Q2, with 11 more planned for the second half of 2021[15] Strategic Initiatives - Euronav is diversifying financing with new sustainability funding, including a $60 million unsecured facility and an €80 million unsecured sustainability-linked facility[20] - The company is recycling older tonnage into new builds, involving 6 VLCCs and 3 Suezmax vessels with an average age of 13.7 years[22] - Euronav is focused on reducing emissions and meeting financial and strategic goals[21, 22] Market Outlook - The tanker market is awaiting recovery, influenced by demand and supply of oil, ton miles, and vessel supply[34, 35] - "Illicit" trade is potentially preventing recycling, with 8% of the VLCC fleet and 5% of the Suezmax fleet involved[27]

ATHENS, Greece, June 18, 2025 (GLOBE NEWSWIRE) -- TEN Ltd. (NYSE: TEN) (“TEN” or the “Company”), a leading diversified crude, product and LNG tanker operator, today announced that its Thirty-Second General Annual Meeting of Shareholders was duly held in Athens on June 12, 2025, pursuant to a Notice of Annual Meeting of Shareholders dated April 30, 2025 (“the Notice”). The meeting was conducted with a quorum of its common shares represented either in person or by proxy, and all proposed resolutions were appr ...

Q1 2025 EBITDA at $103 million and net income of $38 million - equivalent to $1.04 eps Dividends exceed $900 million since Company’s NYSE listing in 2002 TEN awarded by Brazil’s Transpetro/Petrobras to build nine DP2 Shuttle Tankers on long-term employment with revenues of minimum $2 billion Total fleet contracted revenue backlog reaches approx. $3.7 billion Robust 21-vessel eco growth program underwayDr Irene Tsakos & Athens 04 delivered in Q2 ATHENS, Greece, June 17, 2025 (GLOBE NEWSWIRE) -- TEN, Ltd (“T ...

TEN’s total future secured revenues are now in the region of $3.7 billion Tanker market fundamentals remain strong ATHENS, Greece, June 12, 2025 (GLOBE NEWSWIRE) -- TEN Ltd. (NYSE: TEN) (“TEN” or the “Company”), a leading diversified crude, product and LNG tanker operator, today announced the delivery of the eco-friendly scrubber-fitted suezmax tanker Dr Irene Tsakos and the naming of her sister vessel, Silia T, from HD Hyundai Heavy Industries Co., Ltd. (“Hyundai”) in South Korea. The Silia T is expected t ...

HAMILTON, Bermuda, June 09, 2025 (GLOBE NEWSWIRE) -- Teekay Corporation Ltd. (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) (collectively, the Teekay Group) today announced the publication of their 2024 Sustainability Report, which can be accessed on the Teekay Group’s website by clicking here. About Teekay Teekay is a leading provider of international crude oil marine transportation and marine services. Teekay provides these services through its controlling ownership interest in Tee ...

ATHENS, Greece, June 04, 2025 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the "Company" or "TOP Ships") (NYSE American: TOPS), an international owner and operator of modern, fuel-efficient "ECO" tanker vessels, announced today that it intends to effect a spin-off of two of its Suezmax tanker vessels. Rubico Inc. ("Rubico"), currently a subsidiary of TOP Ships, would become an independent publicly-traded company listed on the Nasdaq Capital Market as a result of the planned spin-off. The initial assets of Rubico wil ...