Euronav has dipped into the stock market again to buy another tranche of its own shares.
Following a 3.38m buy for $28.1m disclosed on 10 July, the New York and Brussels-listed tanker owner reported on Monday that it had spent $9.2m for 1.04m shares.
"The board and management firmly believe this affirmative action creates long term value for all stakeholders given the significant disconnect between equity and net asset values at present," the company said, adding that the move reflects its strong balance sheet and management's confidence.
