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 seaborne 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 7 years.
Euronav operates its fleet both on the spot market and on the period tanker market. Most of its VLCCs and 1 V-Plus are operated in the Tankers International ("the TI Pool"). Euronav’s Suezmax ﬂeet is partly fixed on long-term charter. The Euronav Suezmax fleet that is operated on the spot market is partially traded through Suezmax Chartering, a commercial joint venture with Diamond S Management LLC and Frontline Ltd.
VLCC and Suezmax trading routes