Country of incorporation | Consolidation method | Ownership interest | |||||||||||
December 31, 2017 | December 31, 2016 | December 31, 2015 | |||||||||||
Parent | |||||||||||||
Euronav NV | Belgium | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Subsidiaries | |||||||||||||
Euronav Tankers NV | Belgium | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Euronav Shipping NV | Belgium | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Euronav (UK) Agencies Limited | UK | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Euronav Luxembourg SA | Luxembourg | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Euronav sas | France | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Euronav Ship Management sas | France | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Euronav Ship Management Ltd | Liberia | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Euronav Ship Management Hellas (branch office) | |||||||||||||
Euronav Hong Kong | Hong Kong | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Euro-Ocean Ship Management (Cyprus) Ltd | Cyprus | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Euronav Singapore | Singapore | full | 100.00 | % | 100.00 | % | 100.00 | % | |||||
Fiorano Shipholding Ltd | Hong Kong | full | 100.00 | % | 100.00 | % | NA | ||||||
Larvotto Shipholding Ltd | Hong Kong | full | 100.00 | % | 100.00 | % | NA | ||||||
Euronav MI Inc | Marshall Islands | full | 100.00 | % | NA | NA | |||||||
Joint ventures | |||||||||||||
Fiorano Shipholding Ltd | Hong Kong | equity | NA | NA | 50.00 | % | |||||||
Fontvieille Shipholding Ltd | Hong Kong | equity | NA | NA | 50.00 | % | |||||||
Great Hope Enterprises Ltd | Hong Kong | equity | NA | NA | 50.00 | % | |||||||
Kingswood Co. Ltd | Marshall Islands | equity | 50.00 | % | 50.00 | % | 50.00 | % | |||||
Larvotto Shipholding Ltd | Hong Kong | equity | NA | NA | 50.00 | % | |||||||
Moneghetti Shipholding Ltd | Hong Kong | equity | NA | NA | 50.00 | % | |||||||
TI Africa Ltd | Hong Kong | equity | 50.00 | % | 50.00 | % | 50.00 | % | |||||
TI Asia Ltd | Hong Kong | equity | 50.00 | % | 50.00 | % | 50.00 | % | |||||
Tankers Agencies (UK) Ltd | UK | equity | 50.00 | % | NA | NA | |||||||
Tankers International LLC | Marshall Islands | equity | 50.00 | % | NA | NA | |||||||
Associates | |||||||||||||
Tankers International LLC | Marshall Islands | equity | NA | 40.00 | % | 40.00 | % | ||||||
(in thousands of USD) | December 31, 2017 | December 31, 2016 | |||||||||||||||||||||||
Curr. | Nominal interest rate | Year of mat. | Facility size | Drawn | Carrying value | Facility size | Drawn | Carrying value | |||||||||||||||||
TI Asia Ltd * | USD | libor +1.15% | 2017 | — | — | — | 75,343 | 75,343 | 75,343 | ||||||||||||||||
Total interest-bearing bank loans | — | — | — | 75,343 | 75,343 | 75,343 | |||||||||||||||||||
Asset | Liability | |||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands of USD) | Great Hope Enterprises Ltd | Kingswood Co. Ltd | Seven Seas Shipping Ltd | Fiorano Shipholding Ltd | Fontvieille Shipholding Ltd | Larvotto Shipholding Ltd | Moneghetti Shipholding Ltd | TI Africa Ltd | TI Asia Ltd | Total | Africa Conversion Corp | Asia Conversion Corp | Total | |||||||||||||||||||||||||||||||||||||
December 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage ownership interest | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | ||||||||||||||||||||||||||
Non-Current assets | — | 520 | 33,052 | 78,031 | 65,837 | 73,234 | 70,159 | 215,184 | 208,405 | 744,422 | — | — | — | |||||||||||||||||||||||||||||||||||||
of which Vessel | — | — | 33,052 | 78,031 | 65,837 | 73,234 | 70,159 | 208,030 | 200,452 | 728,795 | — | — | — | |||||||||||||||||||||||||||||||||||||
Current Assets | 102 | 489 | 7,463 | 6,498 | 4,195 | 7,873 | 7,219 | 12,144 | 41,744 | 87,727 | — | — | — | |||||||||||||||||||||||||||||||||||||
of which cash and cash equivalents | 59 | — | 1,528 | 552 | 186 | 1,578 | 4,891 | 880 | 30,465 | 40,139 | — | — | — | |||||||||||||||||||||||||||||||||||||
Non-Current Liabilities | — | — | 521 | 84,094 | 77,485 | 81,424 | 79,647 | 303,018 | 223,552 | 849,740 | — | — | — | |||||||||||||||||||||||||||||||||||||
Of which bank loans | — | — | — | 27,813 | 30,470 | 29,143 | 43,750 | — | 75,343 | 206,519 | — | — | — | |||||||||||||||||||||||||||||||||||||
Current Liabilities | 15 | 2 | 239 | 5,981 | 6,656 | 6,621 | 7,099 | 1,155 | 30,832 | 58,601 | — | — | — | |||||||||||||||||||||||||||||||||||||
Of which bank loans | — | — | — | 4,250 | 4,000 | 3,970 | 4,000 | — | 28,858 | 45,078 | — | — | — | |||||||||||||||||||||||||||||||||||||
Net assets (100%) | 87 | 1,007 | 39,755 | (5,546 | ) | (14,109 | ) | (6,939 | ) | (9,368 | ) | (76,845 | ) | (4,235 | ) | (76,192 | ) | — | — | — | ||||||||||||||||||||||||||||||
Group's share of net assets | 43 | 504 | 19,878 | (2,773 | ) | (7,054 | ) | (3,469 | ) | (4,684 | ) | (38,423 | ) | (2,118 | ) | (38,096 | ) | — | — | — | ||||||||||||||||||||||||||||||
Shareholders loans to joint venture | — | — | — | 28,141 | 23,507 | 26,141 | 17,949 | 149,615 | 72,397 | 317,750 | — | — | — | |||||||||||||||||||||||||||||||||||||
Net Carrying amount of interest in joint venture | 43 | 504 | 19,878 | — | — | — | — | — | — | 20,424 | — | — | — | |||||||||||||||||||||||||||||||||||||
Remaining shareholders loan to joint venture | — | — | — | — | — | 25,368 | — | 16,453 | — | 22,672 | — | 13,265 | — | 111,193 | — | 70,280 | — | 259,229 | — | — | — | — | — | — | ||||||||||||||||||||||||||
Revenue | 1 | — | 18,701 | 21,050 | 21,509 | 22,837 | 21,317 | 64,627 | 64,382 | 234,425 | — | — | — | |||||||||||||||||||||||||||||||||||||
Depreciations and amortization | — | — | (3,601 | ) | (4,852 | ) | (4,832 | ) | (4,571 | ) | (4,630 | ) | (18,209 | ) | (17,933 | ) | (58,628 | ) | — | — | — | |||||||||||||||||||||||||||||
Interest Expense | — | — | (102 | ) | (530 | ) | (851 | ) | (644 | ) | (1,170 | ) | (1,220 | ) | (6,106 | ) | (10,623 | ) | — | — | — | |||||||||||||||||||||||||||||
Income tax expense | — | — | — | — | — | — | — | 259 | 106 | 365 | — | — | — | |||||||||||||||||||||||||||||||||||||
Profit (loss) for the period (100%) | 3 | (4 | ) | 11,791 | 6,361 | 6,330 | 6,762 | 5,661 | 35,329 | 30,580 | 102,814 | — | — | — | ||||||||||||||||||||||||||||||||||||
Other comprehensive income (100%) | — | — | — | — | — | — | — | 3,220 | 3,220 | — | — | — | ||||||||||||||||||||||||||||||||||||||
Group's share of profit (loss) for the period | 2 | (2 | ) | 5,895 | 3,181 | 3,165 | 3,381 | 2,831 | 17,664 | 15,290 | 51,407 | — | — | — | ||||||||||||||||||||||||||||||||||||
Group's share of other comprehensive income | — | — | — | — | — | — | — | — | 1,610 | 1,610 | — | — | — | |||||||||||||||||||||||||||||||||||||
Asset | Liability | |||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands of USD) | Great Hope Enterprises Ltd | Kingswood Co. Ltd | Seven Seas Shipping Ltd | Fiorano Shipholding Ltd | Fontvieille Shipholding Ltd | Larvotto Shipholding Ltd | Moneghetti Shipholding Ltd | TI Africa Ltd | TI Asia Ltd | Total | Africa Conversion Corp | Asia Conversion Corp | Total | |||||||||||||||||||||||||||||||||||||
At December 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage ownership interest | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | ||||||||||||||||||||||||||||
Non-Current assets | — | 946 | — | — | — | — | — | 198,826 | 192,344 | 392,116 | — | — | — | |||||||||||||||||||||||||||||||||||||
of which Vessel | — | — | — | — | — | — | — | 189,821 | 182,519 | 372,340 | — | — | — | |||||||||||||||||||||||||||||||||||||
Current Assets | — | 76 | 3,221 | — | — | — | — | 38,206 | 47,889 | 89,392 | — | — | — | |||||||||||||||||||||||||||||||||||||
of which cash and cash equivalents | — | — | 555 | — | — | — | — | 26,928 | 36,591 | 64,074 | — | — | — | |||||||||||||||||||||||||||||||||||||
Non-Current Liabilities | — | — | 946 | — | — | — | — | 276,498 | 132,763 | 410,207 | — | — | — | |||||||||||||||||||||||||||||||||||||
Of which bank loans | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Current Liabilities | — | 2 | 132 | — | — | — | — | 863 | 76,899 | 77,896 | — | — | — | |||||||||||||||||||||||||||||||||||||
Of which bank loans | — | — | — | — | — | — | — | — | 75,343 | 75,343 | — | — | — | |||||||||||||||||||||||||||||||||||||
Net assets (100%) | — | 1,020 | 2,143 | — | — | — | — | (40,329 | ) | 30,571 | (6,595 | ) | — | — | — | |||||||||||||||||||||||||||||||||||
Group's share of net assets | — | 510 | 1,072 | — | — | — | — | (20,165 | ) | 15,285 | (3,298 | ) | — | — | — | |||||||||||||||||||||||||||||||||||
Shareholders loans to joint venture | — | — | — | — | — | — | — | 137,615 | 65,897 | 203,512 | — | — | — | |||||||||||||||||||||||||||||||||||||
Net Carrying amount of interest in joint venture | — | 510 | 1,072 | — | — | — | — | — | 15,285 | 16,867 | — | — | — | |||||||||||||||||||||||||||||||||||||
Remaining shareholders loan to joint venture | — | — | — | — | — | — | — | — | — | — | — | — | — | 117,451 | — | 65,897 | — | 183,348 | — | — | — | — | — | — | ||||||||||||||||||||||||||
Revenue | — | — | 13,646 | 7,182 | 6,404 | 6,901 | 7,471 | 65,188 | 65,063 | 171,855 | — | — | — | |||||||||||||||||||||||||||||||||||||
Depreciations and amortization | — | — | (3,344 | ) | (2,047 | ) | (2,037 | ) | (1,929 | ) | (2,049 | ) | (18,209 | ) | (17,933 | ) | (47,548 | ) | — | — | — | |||||||||||||||||||||||||||||
Interest Expense | — | — | (3 | ) | (223 | ) | (377 | ) | (288 | ) | (537 | ) | (400 | ) | (4,703 | ) | (6,531 | ) | — | — | — | |||||||||||||||||||||||||||||
Income tax expense | — | — | — | — | — | — | — | (326 | ) | (106 | ) | (432 | ) | — | — | — | ||||||||||||||||||||||||||||||||||
Profit (loss) for the period (100%) | (32 | ) | 12 | 7,469 | 1,146 | 500 | 1,082 | 1,270 | 36,515 | 32,359 | 80,322 | — | — | — | ||||||||||||||||||||||||||||||||||||
Other comprehensive income (100%) | — | — | — | — | — | — | — | 2,448 | 2,448 | — | — | — | ||||||||||||||||||||||||||||||||||||||
Group's share of profit (loss) for the period | (16 | ) | 6 | 3,735 | 573 | 250 | 541 | 635 | 18,257 | 16,180 | 40,161 | — | — | — | ||||||||||||||||||||||||||||||||||||
Group's share of other comprehensive income | — | — | — | — | — | — | — | — | 1,224 | 1,224 | — | — | — | |||||||||||||||||||||||||||||||||||||
Asset | Liability | ||||||||||||||||||||||||||||||
(in thousands of USD) | Kingswood Co. Ltd | Seven Seas Shipping Ltd | TI Africa Ltd | TI Asia Ltd | Tankers Agencies (UK) Ltd (see Note 23) | TI LLC (see Note 23) | Total | Africa Conversion Corp | Asia Conversion Corp | Total | |||||||||||||||||||||
At December 31, 2017 | |||||||||||||||||||||||||||||||
Percentage ownership interest | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | 50 | % | |||||||||||||||
Non-Current assets | 629 | — | 182,298 | 175,826 | 363 | 98 | 359,214 | — | — | — | |||||||||||||||||||||
of which Vessel | — | — | 171,612 | 164,587 | — | — | 336,199 | — | — | — | |||||||||||||||||||||
Current Assets | — | 993 | 12,639 | 10,521 | 149,650 | 1,108 | 174,912 | — | — | — | |||||||||||||||||||||
of which cash and cash equivalents | — | 689 | 4,062 | 1,968 | 1,889 | — | 8,608 | — | — | — | |||||||||||||||||||||
Non Current Liabilities | — | 629 | 200,231 | 128,653 | — | — | 329,514 | — | — | — | |||||||||||||||||||||
Of which bank loans | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||
Current Liabilities | 111 | 91 | 766 | 687 | 147,453 | 975 | 150,083 | — | — | — | |||||||||||||||||||||
Of which bank loans | — | — | — | — | 43,000 | — | 43,000 | — | — | — | |||||||||||||||||||||
Net assets (100%) | 518 | 273 | (6,060 | ) | 57,007 | 2,560 | 232 | 54,530 | — | — | — | ||||||||||||||||||||
Group's share of net assets | 259 | 137 | (3,030 | ) | 28,503 | 1,559 | 136 | 27,565 | — | — | — | ||||||||||||||||||||
Shareholders loans to joint venture | — | — | 100,115 | 62,647 | — | — | 162,762 | — | — | — | |||||||||||||||||||||
Net Carrying amount of interest in joint venture | 259 | 137 | — | 28,503 | 1,559 | 136 | 30,595 | — | — | — | |||||||||||||||||||||
Remaining shareholders loan to joint venture | — | — | 97,085 | 62,647 | — | — | 159,732 | — | — | — | — | ||||||||||||||||||||
Revenue | — | 61 | 61,015 | 58,011 | — | — | 119,087 | — | — | — | |||||||||||||||||||||
Depreciations and amortization | — | — | (18,209 | ) | (17,933 | ) | — | — | (36,142 | ) | — | — | — | ||||||||||||||||||
Interest Expense | — | — | (90 | ) | (1,961 | ) | — | — | (2,052 | ) | — | — | — | ||||||||||||||||||
Income tax expense | — | — | 383 | (3,359 | ) | — | — | (2,976 | ) | — | — | — | |||||||||||||||||||
Profit (loss) for the period (100%) | (2 | ) | 130 | 34,269 | 25,467 | — | — | 59,865 | — | — | — | ||||||||||||||||||||
Other comprehensive income (100%) | — | — | — | 966 | — | — | 966 | — | — | — | |||||||||||||||||||||
Group's share of profit (loss) for the period | (1 | ) | 65 | 17,135 | 12,734 | — | — | 29,932 | — | — | — | ||||||||||||||||||||
Group's share of other comprehensive income | — | — | — | 483 | — | — | 483 | — | — | — | |||||||||||||||||||||
(in thousands of USD) | 2017 | 2016 | ||||
Cash and cash equivalents of the joint ventures | 8,608 | 64,074 | ||||
Group's share of cash and cash equivalents | 4,304 | 32,037 | ||||
of which restricted cash | — | 6,789 | ||||
(in thousands of USD) | December 31, 2017 | December 31, 2016 | ||||
Assets | ||||||
Interest in joint ventures | 30,595 | 16,867 | ||||
Interest in associates | — | 1,546 | ||||
TOTAL ASSETS | 30,595 | 18,413 | ||||
Liabilities | ||||||
Interest in joint ventures | — | — | ||||
Interest in associates | — | — | ||||
TOTAL LIABILITIES | — | — | ||||