Euronav NV | CIK:0001604481 | 3

  • Filed: 4/17/2018
  • Entity registrant name: Euronav NV (CIK: 0001604481)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1604481/000160448118000007/0001604481-18-000007-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1604481/000160448118000007/eurn-20171231.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0001604481
  • Open this page in separate window: Click

    • ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory

    Assets and liabilities held for sale and discontinued operations
    Assets held for sale
    The assets held for sale can be detailed as follows:
    (in thousands of USD)
     
    2017
     
    2016
     
    2015
    Vessels
     
    —

     
    —

     
    24,195

    Of which in Tankers segment
     
    —

     
    —

     
    24,195

    Of which in FSO segment
     
    —

     
    —

     
    —

    (in thousands of USD)
     
    (Estimated) Sale price
     
    Book Value
     
    Asset Held For Sale
     
    (Expected) Gain
     
    (Expected) Loss
    At January 1, 2015
     
    —

     
    —

     
    89,000

     
    —

     
    —

     
     
     
     
     
     
     
     
     
     
     
    Assets transferred to assets held for sale
     
     
     
     
     
     
     
     
     
     
    Famenne
     
    38,016

     
    24,195

     
    24,195

     
    13,821

     
    —

     
     
     
     
     
     
     
     
     
     
     
    Assets sold from assets held for sale
     
     
     
     
     
     
     
     
     
     
    Antarctica
     
    91,065

     
    89,000

     
    (89,000
    )
     
    2,065

     
    —

     
     
     
     
     
     
     
     
     
     
     
    At December 31, 2015
     
    —

     
    —

     
    24,195

     
    15,886

     
    —

     
     
     
     
     
     
     
     
     
     
     
    At January 1, 2016
     
    —

     
    —

     
    24,195

     
    —

     
    —

     
     
     
     
     
     
     
     
     
     
     
    Assets sold from assets held for sale
     
     
     
     
     
     
     
     
     
     
    Famenne
     
    38,016

     
    24,195

     
    (24,195
    )
     
    13,821

     
    —

     
     
     
     
     
     
     
     
     
     
     
    At December 31, 2016
     
    —

     
    —

     
    —

     
    13,821

     
    —

     
     
     
     
     
     
     
     
     
     
     

    On January 15, 2016, the Company sold the VLCC Famenne (2001 - 298,412 dwt), for USD 38.4 million. This vessel was accounted for as a non-current asset held for sale as at December 31, 2015, and had a carrying value of USD 24.2 million as of that date The vessel was delivered to its new owner on March 9, 2016. Taking into account the sales commissions, the gain on the sale of this vessel amounted to USD 13.8 million. This gain has been recorded upon delivery of the vessel and is therefore reflected in the consolidated statement of profit or loss for the twelve months ended December 31, 2016.
    As per December 31, 2017 and December 31, 2016, the Group had no assets held for sale.
    Discontinued operations
    As per December 31, 2017 and December 31, 2016, the Group had no operations that meet the criteria of a discontinued operation.