Euronav flags bunkers writedown as coronavirus derails hedging strategy
Risk management plans go awry after 2020-compliant fuels fall 278% in price this year to $234 per tonne, well below the $447 per tonne price paid by the tanker owner in 2019 to secure supplies
Euronav borrowed some $100m to finance $200m purchase of 420,000 tonnes of 2020-compliant fuel oil