Time Charter Contracts
In order to counterbalance the spot employment of its VLCC fleet, Euronav chooses to employ a part of its Suezmax fleet on long-term time charter. This strategy allows the Company to benefit from a secure, steady and visible flow of income. Euronav owns and employs 21 Suezmax vessels. Euronav’s Suezmax charterers are leading oil majors, refiners and oil traders such as Valero, Petrobras, Total and Repsol.
Euronav's entire Suezmax fleet flies Belgian, Greek or Liberian flag. The use of a 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.