Lloyd's List is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

Printed By



Listed on Euronext and the NYSE, Euronav is the world’s largest owner of crude carriers in terms of carrying capacity. The company’s owned and operated fleet consisted of 2 ULCCs, 43 VLCCs, 26 suezmaxes (one under construction), 2 LR1s and 2 FSO vessels (both owned in 50%-50% joint venture) as of late August.

Most of the VLCCs are operated in the Tanker International pool. Its fleet management is mainly carried out by three wholly owned subsidiaries.

Recent performance


Recent performance

Euronav reported better-than-expected results for the second quarter, boosted by its merger with Gener8 Maritime despite weak vessel earnings.

The company booked net losses of $12.5m, including a gain of $36.3m recorded from the purchase of Gener8, compared with the $24.2m losses during the second quarter of 2017.

Not yet fully reflecting the merger, revenues fell to $104.6m from the year-ago level of $126.4m amid dismal spot tanker markets.

According to Euronav, its VLCC fleet trading in the Tankers International pool achieved daily earnings of $16,751 in April-June, down from $28,351 in the year-ago period. Daily earnings of its suezmaxes in the pool fell to $12,883 from $17,341.

However, the market has since recovered slightly. For the third quarter, Euronav’s spot VLCC fleet had earned $20,000 per day with 61% of the available days booked as of early August. Its spot suezmax fleet had earned $14,700 per day on average with 60% of the available days fixed.

Euronav declared a dividend of $0.06 per share for the first half of this year, in line with its policy of a minimum fixed payout.

Latest From Euronav

Euronav chief committed to public equity markets

Euronav chief executive rejects any suggestion of going into private ownership and says the company’s dividend policy is part of a long-term strategy to benefit investors

Euronav VLCC

Euronav sees floating storage as key to future profit

Floating storage will prop up the tanker market amid weak transport demand but charterers are 'abusing' contract negotiations, Euronav says

Euronav Energy

Euronav buys first scrubber-fitted VLCCs

The crude oil carrier owner will spend $280.5m on the very large crude carrier trio being constructed at DSME

Euronav VLCC

Euronav signals tanker market recovery keeping momentum into new year

The imposition of US sanctions against China’s Cosco effectively removed a huge chunk of the market in September 2019 and sent crude tanker rates soaring in the final quarter of the year. Euronav has been making hay and cashing in

Tankers and Gas Euronav

Euronav announces sale-and-leaseback deal for three ships

The sale is expected to generate about $66.6m in cash for the company, after settling debts associated with the vessels

Euronav Tankers and Gas

37 Hugo De Stoop, Euronav

During his first year, the chief executive has been putting the tanker giant in a strong position for the 2020 sulphur cap

Top 100 People Europe
See All