Oil tanker operator Euronav reported a one-third drop in revenues in the second quarter on a year earlier, which was much worse than the 4% decline seen by MISC and Teekay’s 12.5% slide. Panjiva analysis shows the tanker/bulker sector likely saw average revenues fall 8% in the second quarter. Yet, Euronav’s result was 7% better than expected due to achieved rate performance, repeating the pattern seen at Teekay. The management’s medium term outlook is positive, stating the sector is entering “a new phase of the cycle”. However, the front-end loading of new tanker deliveries will likely m...