Euronav shares lost ground today as a cautious tanker market view overpowered robust quarterly earnings and reassurance its dividend would be sustained in a weaker rate environment.
New York-listed Euronav this morning reported a fourth quarter adjusted profit of $13.5m, beating the $13m consensus.
Analysts at DNB Markets said lower costs had led to the earnings beat. And with the company reiterating its 80% dividend policy its shares were expected to trade up marginally today.
