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Euronav

#3453

Rank

$3.27B

Marketcap

BE Belgium

Country

Euronav
Leadership team

Mr. Hugo De Stoop (CEO & Member of the Management Board)

Ms. Lieve Logghe (CFO & Member of the Management Board)

Captain Alex Staring (COO & Member of the Management Board)

Products/ Services
Shipping
Number of Employees
1,000 - 20,000
Headquarters
Antwerp, Antwerpen, Belgium
Established
1995
Company Registration
SEC CIK number: 0001604481
Revenue
500M - 1B
Traded as
EURN
Social Media
Overview
Location
Summary
Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2022, it owned and operated a fleet of 72 vessels, including 6 chartered-in vessels with an aggregate carrying capacity of approximately 18.5 million deadweight tons consisting of 41 very large crude carriers, 2 V-plus, 27 Suezmax vessels, and 2 FSO vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.
History

Euronav provides complete shipping services in addition to its fleet of large tankers. The company is the successor to the Belgium tanker-owner European Navigation Company Ltd, an Isle of Man company, and to the French Compagnie Nationale de Navigation . In 1995 European Navigation Company Ltd sold vessels, subsidiary, crewing and technical, management companies and goodwill to Euronav Luxembourg NV to form a joint venture between CNN and Compagnie Maritime Belge . In 1997 CMB acquired CNN and transferred Euronav Luxembourg NV into the full ownership of CMB. Euronav had thus become the wholly owned tanker division of CMB.At the time CMB was and continues to be controlled by the Belgian family Saverys.

On 5 January 2014 Euronav announced that it has entered into a contract to acquire 15 VLCC tankers from Maersk subsidiary Maersk Tankers Singapore in a deal worth US$980 million. This deal will bring the number of ships from Euronav from thirtyfive to fifty.

In December 2017, it became known that Euronav took over its American competitor, Gener8 Maritime. The take over will take form of a merger by moving all Gener8's shares under Euronav's umbrella with Gener8 becoming a daughter company. Euronav will have 72 percent of the shares, compared to 28 percent for the Gener8 stockholders. The new group will have a fleet of 75 tankers, including 44 VLCC's.

On 11 September 2020, Euronav was granted a $713m loan facility by Nordea with the first withdrawal on 15 October 2020. It consists of a revolving credit facility of up to $469m and a term loan of up to $244m.On 7 April 2022 there was announced a merger between Euronav and Frontline Ltd. pending regulatory approval and ironing out of the last details, including different strategic views between Euronav and Frontline main owners.

Mission
Euronav's mission is to create value for its customers, shareholders and employees, by offering competitive and cost-effective solutions for their transportation and storage needs, and providing safe and reliable services.
Vision
Euronav's vision is to be the most reliable, respected and successful maritime transporter of crude oil and petroleum products in the world.
Key Team

Mr. Egied Verbeeck (Gen. Counsel & Member of the Management Board)

Mr. Brian Gallagher (Head of Investor Relations, Research & Communications and Member of the Management Board)

Ms. Veronique Raes (Chief People Officer)

Mr. Rustin Edwards (Head of Fuel Oil procurement)

Recognition and Awards
Euronav is the recipient of numerous awards, including the Tanker Operator Environmental Award from Lloyds List in 2009, and being nominated for the European Logistics Excellence Award in 2017.
References
Euronav
Leadership team

Mr. Hugo De Stoop (CEO & Member of the Management Board)

Ms. Lieve Logghe (CFO & Member of the Management Board)

Captain Alex Staring (COO & Member of the Management Board)

Products/ Services
Shipping
Number of Employees
1,000 - 20,000
Headquarters
Antwerp, Antwerpen, Belgium
Established
1995
Company Registration
SEC CIK number: 0001604481
Revenue
500M - 1B
Traded as
EURN
Social Media