Euronav is a vertically integrated owner operator and manager able to provide complete shipping services in addition to its fleet of modern large tankers. The crude oil seaborne transportation market is cyclical and highly volatile requiring flexible, 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 a little less than 8 years. (For further details see fleet)
Euronav operates its fleet both on the spot and the period market. Most of Euronav's VLCCs and 1 V-Plus are operated in the Tankers International pool. The majority of its Suezmax fleet is fixed on long-term charter.
Euronav can also supply and operate Floating, Storage and Offloading (FSO) vessels through conversion or newbuilding. Euronav is able to bring added value to its offshore projects through building supervision or construction, engineering and in-house management.
Fleet management is conducted by three wholly owned subsidiaries Euronav Ship Management SAS and Euronav SAS, both French companies with head quarters in Nantes, France and with a major branch office in Antwerp, Belgium and Euronav Ship Management (Hellas) Ltd. with branch office in Piraeus, Greece. The skills of its directly employed seagoing officers and crew and its shore-based staff, including captains and engineers, give Euronav a competitive edge in high-quality design, maintenance and operation. Euronav vessels fly Belgian, Greek, French, Marshall Islands and Panamese flag.