Time Charter contracts

Euronav's entire Suezmax fleet flies Greek or Belgian flag. The use of national flag together with operational and maintenance standards in terms of age and performance, which are higher than industry norm, enables Euronav to employ part of its fleet on time charter. In order to counterbalance the spot employment of its VLCC fleet, Euronav chooses to employ its Suezmax fleet on long term time charter. This strategy allows us to benefit from a secure, steady and visible flow of income. The majority of Euronav's Suezmax vessels as are a number of Euronav's VLCC's are under time charter contracts with oil majors, leading refiners and oil traders such as Valero, Total, BP, Petrobras and Sun Oil.