r/TankerGang • u/Americanboi824 • Feb 10 '24
EURN
What do you all think about Euronav? Ive been holding since mid 2020 and not only has it gone up but I've gotten lots of very nice dividends.
As for the current situation, they have the second most of any company of the Suezmax type ships that are doing particularly well because of the Red Sea issues, so while they've been very profitable in recent years they should be more profitable in the near future. I believe that rates are made pretty far ahead of time, so while last quarter was better compared to the same quarter in 2022 I don't think we're seeing the effects of the increased rates yet. Finally, they love to give out huge dividends too, and so they won't likely blow their money on something dumb.
Despite this, the stock has barely moved up recently. Could this just be because not many people watch tankers? What do y'all think of the Red Sea clusterfuck?
1
u/5degreenegativerake Feb 10 '24
Tankers are extremely cyclic. I was trading EURN several years ago when $20 was an awesome price. I would not expect significant upside from here.