Euronav NV | CIK:0001604481 | 3

  • Filed: 4/17/2018
  • Entity registrant name: Euronav NV (CIK: 0001604481)
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    • ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory

    The estimated useful lives of significant items of property, plant and equipment are as follows:
    •
    tankers
    20 years
    •
    FSO/FpSO/FPSO
    25 years
    •
    plant and equipment
    5 - 20 years
    •
    fixtures and fittings
    5 - 10 years
    •
    other tangible assets
    3 - 20 years
    •
    dry-docking
    2.5 - 5 years
    (in thousands of USD)
     
    Acquisitions
     
    Sale price
     
    Book Value
     
    Gain
     
    Deferred Gain
    Loss
    Antarctica - Sale (Note 3)
     
    —

     
    91,065

     
    89,000

     
    2,065

     
    —

    —

    Cap Laurent - Sale
     
    —

     
    21,825

     
    10,682

     
    11,143

     
    —

    —

    Other
     
    —

     
    —

     
    —

     
    94

     
    —

    (8,002
    )
    At December 31, 2015
     
     
     
     
     
     
     
    13,302

     
    —

    (8,002
    )
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Acquisitions
     
    Sale price
     
    Book Value
     
    Gain
     
    Deferred Gain
    Loss
    Famenne - Sale (Note 3)
     
    —

     
    38,016

     
    24,195

     
    13,821

     
    —

    —

    Nautilus - Sale
     
    —

     
    43,250

     
    32,208

     
    11,042

     
    (500
    )
    —

    Navarin - Sale
     
    —

     
    47,250

     
    36,739

     
    10,511

     
    (1,500
    )
    —

    Neptun - Sale
     
    —

     
    47,250

     
    37,534

     
    9,716

     
    (1,500
    )
    —

    Nucleus - Sale
     
    —

     
    47,250

     
    36,974

     
    10,276

     
    (1,500
    )
    —

    Other
     
    —

     
    —

     
    —

     
    31

     
    —

    (2
    )
    At December 31, 2016
     
     
     
     
     
     
     
    55,397

     
    (5,000
    )
    (2
    )
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Acquisitions
     
    Sale price
     
    Book Value
     
    Gain
     
    Deferred Gain
    Loss
    TI Topaz - Sale
     
    —

     
    20,790

     
    41,817

     
    —

     
    —

    (21,027
    )
    Flandre - Sale
     
    —

     
    45,000

     
    24,693

     
    20,307

     
    —

    —

    Cap Georges - Sale
     
    —

     
    9,310

     
    801

     
    8,509

     
    —

    —

    Artois - Sale
     
    —

     
    21,780

     
    14,077

     
    7,703

     
    —

    —

    Other
     
    —

     
    28

     
    8

     
    20

     
    —

    —

    At December 31, 2017
     
     
     
     
     
     
     
    36,538

     
    —

    (21,027
    )
    (in thousands of USD)
     
    Vessels
     
    Vessels under construction
     
    Other tangible assets
     
    Prepayments
     
    Total PPE
    At January 1, 2015
     
     
     
     
     
     
     
     
     
     
    Cost
     
    3,342,607

     
    —

     
    2,997

     
    16,601

     
    3,362,205

    Depreciation & impairment losses
     
    (1,084,273
    )
     
    —

     
    (1,771
    )
     
    —

     
    (1,086,044
    )
    Net carrying amount
     
    2,258,334

     
    —

     
    1,226

     
    16,601

     
    2,276,161

     
     
     
     
     
     
     
     
     
     
     
    Acquisitions
     
    257,706

     
    93,890

     
    288

     
    8,001

     
    359,885

    Disposals and cancellations
     
    (10,681
    )
     
    —

     
    (3
    )
     
    (8,000
    )
     
    (18,684
    )
    Depreciation charges
     
    (209,728
    )
     
    —

     
    (428
    )
     
    —

     
    (210,156
    )
    Transfer to assets held for sale
     
    (24,195
    )
     
    —

     
    —

     
    —

     
    (24,195
    )
    Transfers
     
    16,600

     
    —

     
    —

     
    (16,600
    )
     
    —

    Translation differences
     
    —

     
    —

     
    (35
    )
     
    —

     
    (35
    )
    Balance at December 31, 2015
     
    2,288,036

     
    93,890

     
    1,048

     
    2

     
    2,382,976

     
     
     
     
     
     
     
     
     
     
     
    At January 1, 2016
     
     

     
     

     
     

     
     

     
     

    Cost
     
    3,477,605

     
    93,890

     
    2,482

     
    2

     
    3,573,979

    Depreciation & impairment losses
     
    (1,189,569
    )
     
    —

     
    (1,434
    )
     
    —

     
    (1,191,003
    )
    Net carrying amount
     
    2,288,036

     
    93,890

     
    1,048

     
    2

     
    2,382,976

     
     
     
     
     
     
     
     
     
     
     
    Acquisitions
     
    250,912

     
    86,944

     
    175

     
    3

     
    338,034

    Acquisitions through business combinations (Note 24)
     
    120,280

     
    —

     
    —

     
    —

     
    120,280

    Disposals and cancellations
     
    (143,457
    )
     
    —

     
    (7
    )
     
    —

     
    (143,464
    )
    Depreciation charges
     
    (227,306
    )
     
    —

     
    (358
    )
     
    —

     
    (227,664
    )
    Transfer to assets held for sale
     
    —

     
    —

     
    —

     
    —

     
    —

    Transfers
     
    94,698

     
    (94,698
    )
     
    5

     
    (5
    )
     
    —

    Translation differences
     
    —

     
    —

     
    (86
    )
     
    —

     
    (86
    )
    Balance at December 31, 2016
     
    2,383,163

     
    86,136

     
    777

     
    —

     
    2,470,076

     
     
     
     
     
     
     
     
     
     
     
    At January 1, 2017
     
     
     
     
     
     
     
     
     
     
    Cost
     
    3,748,135

     
    86,136

     
    2,373

     
    —

     
    3,836,644

    Depreciation & impairment losses
     
    (1,364,972
    )
     
    —

     
    (1,596
    )
     
    —

     
    (1,366,568
    )
    Net carrying amount
     
    2,383,163

     
    86,136

     
    777

     
    —

     
    2,470,076

     
     
     
     
     
     
     
     
     
     
     
    Acquisitions
     
    125,486

     
    51,201

     
    1,203

     
    —

     
    177,890

    Acquisitions through business combinations (Note 24)
     
    —

     
    —

     
    —

     
    —

     
    —

    Disposals and cancellations
     
    (81,389
    )
     
    —

     
    (9
    )
     
    —

     
    (81,398
    )
    Depreciation charges
     
    (229,429
    )
     
    —

     
    (348
    )
     
    —

     
    (229,777
    )
    Transfer to assets held for sale
     
    —

     
    —

     
    —

     
    —

     
    —

    Transfers
     
    73,669

     
    (73,669
    )
     
    —

     
    —

     
    —

    Translation differences
     
    —

     
    —

     
    40

     
    —

     
    40

    Balance at December 31, 2017
     
    2,271,500

     
    63,668

     
    1,663

     
    —

     
    2,336,831

     
     
     
     
     
     
     
     
     
     
     
    At December 31, 2017
     
     

     
     

     
     

     
     

     
     

    Cost
     
    3,595,692

     
    63,668

     
    3,545

     
    —

     
    3,662,905

    Depreciation & impairment losses
     
    (1,324,192
    )
     
    —

     
    (1,882
    )
     
    —

     
    (1,326,074
    )
    Net carrying amount
     
    2,271,500

     
    63,668

     
    1,663

     
    —

     
    2,336,831

    These can be detailed as follows:
    (in thousands of USD)
     
    As at December 31, 2016 payments scheduled for
     
     
    TOTAL
     
    2017
     
    2018
     
    2019
    Commitments in respect of VLCCs
     
    97,035

     
    97,035

     
    —

     
    —

    Commitments in respect of Suezmaxes
     
    111,793

     
    24,843

     
    86,950

     
    —

    Commitments in respect of FSOs
     
    —

     
    —

     
    —

     
    —

    Total
     
    208,828

     
    121,878

     
    86,950

     
    —

     
     
     
     
     
     
     
     
     
     
     
    As at December 31, 2017 payments scheduled for
     
     
    TOTAL
     
    2018

     
    2019

     
    2020

    Commitments in respect of VLCCs
     
    —

     
    —

     
    —

     
    —

    Commitments in respect of Suezmaxes
     
    185,922

     
    185,922

     
    —

     
    —

    Commitments in respect of FSOs
     
    —

     
    —

     
    —

     
    —

    Total
     
    185,922

     
    185,922

     
    —

     
    —