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Group entities
 12 Months Ended
Dec. 31, 2019
Interests in Other Entities [Abstract]  
Group entities
Group entities
 
 
Country of incorporation
 
Consolidation method
 
Ownership interest
 
 
 
 
 
 
December 31, 2019

 
December 31, 2018

 
December 31, 2017

Parent
 
 
 
 
 
 
 
 
 
 
Euronav NV
 
Belgium
 
full
 
100.00
%
 
100.00
%
 
100.00
%
Euronav NV, Antwerp, Geneva (branch office)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Antwerp (branch office)
 
 
 
 
 
 
 
 
 
 
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
 
NA

 
100.00
%
 
100.00
%
Larvotto Shipholding Ltd
 
Hong Kong
 
full
 
NA

 
100.00
%
 
100.00
%
Euronav MI II Inc
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
100.00
%
Gener8 Maritime Subsidiary II Inc.
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Maritime Subsidiary New IV Inc.
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Maritime Management LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Maritime Subsidiary V Inc.
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Maritime Subsidiary VIII Inc.
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Maritime Subsidiary Inc.
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Zeus LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Atlas LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Hercules LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Ulysses LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Posseidon LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Victory Ltd.
 
Bermuda
 
full
 
NA

 
100.00
%
 
NA

Vision Ltd.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

GMR Spartiate LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Maniate LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR St Nikolas LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR George T LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Kara G LLC
 
Liberia
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Harriet G LLC
 
Liberia
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Orion LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Argus LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Spyridon LLC
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

GMR Horn LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Phoenix LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Strength LLC
 
Liberia
 
full
 
NA

 
100.00
%
 
NA

GMR Daphne LLC
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

GMR Defiance LLC
 
Liberia
 
full
 
100.00
%
 
100.00
%
 
NA

GMR Elektra LLC
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Companion Ltd.
 
Bermuda
 
full
 
100.00
%
 
100.00
%
 
NA

Compatriot Ltd.
 
Bermuda
 
full
 
100.00
%
 
100.00
%
 
NA

Consul Ltd.
 
Bermuda
 
full
 
NA

 
100.00
%
 
NA

GMR Agamemnon LLC
 
Liberia
 
full
 
NA

 
100.00
%
 
NA

Gener8 Neptune LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Athena LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Apollo LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Ares LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Hera LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Constantine LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Oceanus LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Nestor LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Nautilus LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Macedon LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Noble LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Ethos LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Perseus LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Theseus LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Hector LLC
 
Marshall Islands
 
full
 
100.00
%
 
100.00
%
 
NA

Gener8 Strength Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Supreme Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Andriotis Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Militiades Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Success Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Chiotis Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Tankers 1 Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Tankers 2 Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Tankers 3 Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Tankers 4 Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Tankers 5 Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Tankers 6 Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Tankers 7 Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

Gener8 Tankers 8 Inc.
 
Marshall Islands
 
full
 
NA

 
100.00
%
 
NA

 
 
 
 
 
 
 
 
 
 
 
Joint ventures
 
 
 
 
 
 
 
 
 
 
Kingswood Co. Ltd
 
Marshall Islands
 
equity
 
50.00
%
 
50.00
%
 
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
%
 
50.00
%
 
NA

Tankers International LLC
 
Marshall Islands
 
equity
 
50.00
%
 
50.00
%
 
NA

Bari Shipholding Ltd
 
Hong Kong
 
equity
 
50.00
%
 
NA

 
NA

Bastia Shipholding Ltd
 
Hong Kong
 
equity
 
50.00
%
 
NA

 
NA

 
 
 
 
 
 
 
 
 
 
 
Associates
 
 
 
 
 
 
 
 
 
 
Tankers International LLC
 
Marshall Islands
 
equity
 
NA

 
NA

 
40.00
%

In the fourth quarter of 2017, Euronav NV incorporated a new subsidiary, Euronav MI II Inc.

In 2017, the corporate structure of Tankers International pool (“TI Pool”) was rationalized. Under the new structure, the shares of Tankers (UK) Agencies Limited (“TUKA”), fully held at the time by Tankers International LLC (“TI LLC”), an entity incorporated under the laws of the Marshall Islands, were distributed to the two remaining founding members of the TI Pool (namely Euronav NV and International Seaways INC), to form a 50-50 joint venture.

Further, following the withdrawal in December 2017 of one of its members, TI LLC, which was previously an associate of the Group, became a joint venture of the Group as from that time.

Additionally, a new company, Tankers International Ltd. ("TIL"), was incorporated under the laws of the United Kingdom, and is fully owned by TUKA. TIL is the disponent owner of all of the vessels in the TI Pool as all the vessels are now time chartered to TIL at a floating rate equivalent to the average spot rate achieved by the pool times the pool points assigned to each vessel.

This new structure allowed the TI Pool to arrange for a credit line financing in order to lower the working capital requirement for the Pool participants which potentially can attract additional pool participants.

At December 31, 2019, the Group held 50% of the voting rights in TUKA but held 61% of the outstanding shares that participate in the result of the entity.

At December 31, 2019, the Group held 50% of the voting rights in TI LLC but held 59% of the outstanding shares that participate in the result of the entity.

In 2018 two subsidiaries, Fiorano Shipholding Ltd and Larvotto Shipholding Ltd were dissolved.

Due to the merger with Gener8 Maritime Inc. on June 12, 2018 as set out in Note 25, the Group acquired new subsidiaries. Those subsidiaries were used by Gener8 mostly as SPV to own individual vessels. All of the vessels have been transferred to Euronav NV in 2018. The Group intends to liquidate a majority of those subsidiaries as soon as possible. In 2019 the following subsidiaries were dissolved:
GMR Strength LLC
Gener8 Tankers 8 Inc.
 
 
 
GMR Daphne LLC
Gener8 Strength Inc.
 
 
 
GMR Elektra LLC
Gener8 Supreme Inc.
 
 
 
GMR Agamemnon LLC
Gener8 Andriotis Inc.
 
 
 
Gener8 Tankers 1 Inc.
Gener8 Miltiades Inc.
 
 
 
Gener8 Tankers 2 Inc.
Gener8 Success Inc.
 
 
 
Gener8 Tankers 3 Inc.
Gener8 Chiotis Inc.
 
 
 
Gener8 Tankers 4 Inc.
Vision Ltd.
 
 
 
Gener8 Tankers 5 Inc.
Consul Ltd.
 
 
 
Gener8 Tankers 6 Inc.
Victory Ltd.
 
 
 
Gener8 Tankers 7 Inc.
GMR Spyridon LLC
 
 
 


In 2019, Euronav NV, Antwerp, Geneva (branch office), was established and incorporated in the third quarter of 2019.

In the fourth quarter of 2019, two new joint ventures Bari Shipholding Ltd. and Bastia Shipholding Ltd. were incorporated (see Note 26).

The Group holds 100% of the voting rights in all of its subsidiaries.