Euronav NV (NYSE:EURN) Q4 2023 Earnings Call Transcript

Does that answer your question?

Kristof Samoy: Yes. Thank you.

Operator: Okay. Thank you. Then the next person who can ask his question is Thijs Berkelder. You can unmute and ask your question, please.

Thijs Berkelder: Yeah. Thijs Berkelder, ABN-Amro ODDO BHF. Three questions. First, you presented a break-even — P&L break-even for your four-year tankers. Is that a pre-sale of the fleet or post-sale of the fleet, or somewhere in between? Then the second question is, given the situation with the Houthis, et cetera., are you making extra costs for protecting your vessels now, and if so, what amounts should we think of? The third question is on the bunker volumes. What is your bunker strategy going forward?

Ludovic Saverys: Okay. Thijs, thanks. I’ll take the first one and I’ll take the next two ones. The break-even of the tankers as protect — as projected are of the remaining fleet. So, this is going forward, these are the P&L break-evens on both Suezmaxes and VLCCs.

Alexander Saverys: Yeah. And then on the protective measures for the Houthis, we don’t need to take any measures because the best measure is not going there. We are basically sailing around and not crossing the area. In terms of the bunker strategy, Thijs, we are basically keeping a strategy of being full-floating, so market-related. There’s not any significant hedging and we are not doing anything that maybe was done in the past of buying bunkers beforehand and loading it on board of the Oceania, because now the vessel is gone. So we basically go back to the normal strategy of staying on the spot market and not taking any cover. Does that answer your question, Thijs?

Thijs Berkelder: Yes. Thank you.

Alexander Saverys: Thank you. Yeah. Maybe, Enya, before we go back to the question of Kristof, it is what I thought. It’s $1.1 billion in cash came in in Q4 and $1.25 billion in Q1. You can go ahead, Enya.

Operator: [Operator Instructions] Okay. I see no further questions, Alexander and Ludovic.

Alexander Saverys: All right. Great. But we’re always there to answer any questions you might have after this call. Thanks for joining us and see you next week on Wednesday at the General Assembly. Bye-bye.

Ludovic Saverys: Thanks. Bye.

Alexander Saverys: Bye.