Euronav NV

Industry:

Marine Shipping & Transportation

Description

Euronav is an integrated owner, operator and manager able to provide complete shipping services in addition to the carriage of crude oil on its fleet of modern large tankers. The crude oil sea-borne transportation market is cyclical and highly volatile requiring flexible and proactive management of assets in terms of fleet composition and employment.

Euronav increases exposure to the market through opportunistically entering the market by chartering vessels from other owners and tonnage providers whilst maintaining a core fleet of high quality owned or controlled tonnage. The Euronav core fleet has an average age of just over 5 years.

Euronav operates its fleet on both the spot and the period market. Most of Euronav VLCCs as well as all VPLUS are operated in the Tankers International pool.

Euronav operates at the moment all of its Suezmaxes and Aframaxes under period charter contracts with oil majors, leading refiners and oil traders such as BP, Glencore, Petrobras, Sun Oil, Total Valero and Vitol.

Fleet management is conducted by three wholly owned subsidiaries: Euronav Ship Management SAS and Euronav SAS, both French companies with headquarters in Nantes (France) and with a major branch office in Antwerp and Euronav Ship Management (Hellas) Ltd with its head office in Piraeus, Greece. The skills of its directly employed seagoing officers, shore-based Captains and Engineers give Euronav a competitive edge in high quality design, maintenance and operation. Euronav vessels fly Belgian, Greek and French flag. The use of national flag together with operational and maintenance standards in terms of age, appearance and performance which are higher than industry norms enables Euronav to employ part of its fleet on long-term charter with fixed earnings to secure financial visibility.

News Archive

Belgian Euronav raises bond offer. ADP Debt News; 9/17/2009 (ADPnews) - Sep 17, 2009 - Belgian crude oil transport company Euronav NV (EBR:EURN) said Tuesday it had increased its convertible bond offer by USD 25 million (EUR 17m) to USD 150 million. The... ...more

Belgian Euronav to issue up to USD 200m convertible bonds. ADP Debt News; 9/4/2009 (ADPnews) - Sep 4, 2009 - Belgian crude oil transport company Euronav NV (EBR:EURN) said Friday it will issue convertible bonds for up to USD 200 million (EUR 140.2m), maturing in 2015. The... ...more

Shipping firms to sell more bonds.(Shipping) Manila Bulletin; 10/26/2009 ...billion a year after lending shrank, according to Nordea Bank AB, the biggest coordinator of loans to the industry. Euronav NV, Belgium’s largest oil-tanker owner, Malaysia’s MISC Bhd., the world&rsquo... ...more