Euronav: Strong Dividends Ahead

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About: Euronav NV (EURN)
by: Climent Molins
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Climent Molins
Deep Value, value, long/short equity, Growth
Summary

Euronav is poised to benefit from the strong tanker market we are now entering.

A very strong balance sheet leaves room for big dividends starting Q1 2020.

Euronav's strategy regarding IMO 2020 is very conservative and is adaptable to scrubber adoption on non-ECO VLCCs depending on market conditions.

Investment thesis

Euronav is one of the best tanker companies in the world yet it does not trade at a premium to peers, in fact it currently trades at a discount to many of the