Presentation

Euronav is the world’s largest, independent, listed tanker company. It originates from 1989 when it started as a subsidiary of CNN (Compagnie Nationale de Navigation). In 2000, Euronav formed a VLCC pool with other ship owners – Tankers International Pool – which still is the world’s largest VLCC pool. The company has been listed on Euronext Brussels since 2004 and NYSE since 2015. Euronav is headquartered in Antwerp, Belgium.

As of Q2’21, Euronav’s current owned fleet consists of two FSO vessels (50% ownership), 49 VLCCs (including newbuilding orders and two V-plus vessels) and 24 suezmaxes. The average age of the owned fleet is around 8 years, with a total capacity of approximately 20 million dwt.

Since 2019, Euronav has sold eight older vessels (five VLCCs and three suezmaxes) and reinvested the proceeds in 12 new tankers (eight still under construction). The three VLCC scheduled for delivery in H1’23 will have LNG ready structural notation, and Euronav is working to get them ammonia ready. The three suezmaxes ready for delivery late 2023 and early 2024 will feature readiness for ammonia dual fuel, with the possibility of LNG conversion. Both investments allow for fuel flexibility in the future.

As the tanker rate comeback is yet to be seen, Euronav makes the most of the situation by accelerating several drydockings.