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]

HAMILTON, BERMUDA, June 19, 2025 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announces that it has entered into an agreement to acquire a VLCC built in 2018 at Hyundai Heavy Industries (HHI), for $107 million. The vessel is scheduled to deliver towards the end of the third quarter of 2025. The acquisition will be financed through the Company’s available liquidity and projected mortgage debt. The vessel was built to a high specification by its current owner and is fitted with an exhaust ga ...