Euronav

Euronav NV
Public
Traded as Euronext: EURN
NYSE: EURN
Industry Transport, Marine, Oil and Gas
Founded 2004
Headquarters Antwerp, Belgium
Key people
 Paddy Rodgers (CEO)
Alex Staring (COO)
Hugo De Stoop (CFO)
Products Shipping
Oil
Number of employees
 1,700 (2013)
Website www.euronav.com
Euronav tanker in Canada

Euronav is an international shipping enterprise which focuses on oil transport by sea.

History

Euronav provides complete shipping services in addition to its fleet of large tankers.[1] The company is the successor to tanker-owner European Navigation Company Ltd, an Isle of Man company incorporated by Compagnie Nationale de Navigation (CNN), at that time a subsidiary of the Worms Group. In 1995 European Navigation Company Ltd sold vessels, subsidiary, crewing and technical, management companies and goodwill to Euronav Luxembourg NV to form a joint venture between CNN and Compagnie Maritime Belge (CMB). In 1997 CMB acquired CNN and transferred Euronav Luxembourg NV into the full ownership of CMB. Euronav had thus become the wholly owned tanker division of CMB.[2]

At the time CMB was and continues to be controlled by the Belgian family Saverys.

Fleet management

The fleet management is conducted by three wholly owned subsidiaries Euronav Ship Management SA and Euronav SAS, both French companies with headquarters in Nantes, France and with a major branch office in Antwerp, Belgium and Euronav Ship Management (Hellas) Ltd. with branch office in Piraeus, Greece. Euronav vessels fly Belgian, Greek and French flag.[3] Most of Euronav's VLCCs and two or three V-Plus[4] are operated in the Tankers International pool.[5]

On 5 January 2014 Euronav announced that it has entered into a contract to acquire 15 VLCC tankers from Maersk subsidiary Maersk Tankers Singapore in a deal worth 980 million dollar.[6] This deal will bring the number of ships from Euronav from thirtyfive to fifty.[7]

External links

References

  1. ↑ http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=EURN:BB
  2. ↑ Euronav - History
  3. ↑ http://www.allaboutshipping.co.uk/2013/06/24/euronav-us-300-million-facility/
  4. ↑ Company Overview (p. 6 of 32)
  5. ↑ http://www.linkedin.com/company/euronav
  6. ↑ euronav.com: Press release
  7. ↑ De Standaard: Oliereder Euronav koopt 15 mammoettankers van Maersk
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