Euronav CEO on Oil Storage, Tanker Rates, Dividend

The video discusses the current state of oil storage and transportation, highlighting the available capacity in tankers versus land storage. It explains the volatile nature of tanker rates and the financial strategies of the company, including dividends and fleet rejuvenation. The company has significant storage capacity due to its focus on vessel storage, which is not typically accounted for in headlines. Despite reduced demand, there is still a need for oil transportation. The company is experiencing high margins due to volatile tanker rates and is considering share buybacks and fleet updates as part of its financial strategy.

What is the primary reason for the availability of storage space on tankers despite headlines suggesting otherwise?

• Land storage capacity is often underestimated.

• Tankers are primarily used for trading, not storage.

• The headlines did not account for vessel storage.

• There is a sudden decrease in oil production.

Why is there still a demand for oil transportation despite reduced refinery imports?

• A significant portion of global oil consumption still needs transportation.

• Refineries are increasing their storage capacity.

• Oil production has increased unexpectedly.

• New refineries are being built rapidly.

How have tanker rates changed since the beginning of the year?

• They have steadily increased.

• They have remained stable.

• They have been extremely volatile.

• They have consistently decreased.

What is one of the financial strategies the company is considering with its profits?

• Expanding into new markets.

• Buying back shares.

• Increasing employee salaries.

• Investing in new technology.

What percentage of the company's profits is distributed as dividends?

• 80%

• 50%

• 60%

• 70%

Why is the company hesitant to buy new tonnage at the moment?

• They are focusing on technology upgrades.

• There is a lack of available ships.

• The value of ships is currently high.

• They are waiting for government incentives.

What is the typical lifespan of the company's vessels?

• 20 years

• 10 years

• 25 years

• 15 years