Cashing of the 289,900-dwtAlgarve (built 1999) is only one step in the right direction, according toanalyst Nikolay Dyvik.
“We argue Euronav has started to sell assets toimprove the liquidity position in a challenging tanker market, but moresales of assets is needed to avoid issuance of shares as the company will stillbe in breach of its cash covenant in Q4 2013,” he said.
