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Equity-accounted investees (Tables)

12 Months Ended

Dec. 31, 2023

Interests in Other Entities [Abstract]

Disclosure of interests in associates

(in thousands of USD)						December 31, 2023						December 31, 2022
Assets
Interest in joint ventures						518						1,423
Interest in associates						—						—
TOTAL ASSETS						518						1,423
Liabilities
Interest in joint ventures						—						—
Interest in associates						—						—
TOTAL LIABILITIES						—						—

Disclosure of reconciliation of summarised financial information of joint venture accounted for using equity method to carrying amount of interest in joint venture

The following table contains a roll forward of the balance sheet amounts with respect to the Group's joint ventures:

						ASSET
(in thousands of USD)						Investments in equity accounted investees						Shareholders loans
Gross balance						51,703						33,936
Offset investment with shareholders loan						—						—
Balance at January 1, 2021						51,703						33,936
Group's share of profit (loss) for the period						22,976						—
Group's share of other comprehensive income						951						—
Dividends received from joint ventures						(4,635)						—
Movement shareholders loans to joint ventures						—						(2,242)
Gross balance						70,995						31,694
Offset investment with shareholders loan						1,451						(1,451)
Balance at December 31, 2021						72,446						30,242
Reversal prior year offset investment with shareholders loan						(1,451)						1,451
Group's share of profit (loss) for the period						17,650						—
Group's share of other comprehensive income						159						—
Dividends received from joint ventures						(3,021)						—
Movement equity to shareholders loans						(2,000)						2,000
Reclassification of associate to joint venture (Note 23)						—						(32,844)
Business combinations						(83,186)						—
Gross balance						597						850
Offset investment with shareholders loan						826						(826)
Balance at December 31, 2022						1,423						24

						ASSET
(in thousands of USD)						Investments in equity accounted investees						Shareholders loans
Reversal prior year offset investment with shareholders loan						(826)						826
Group's share of profit (loss) for the period						(927)						—
Gross balance						(329)						850
Offset investment with shareholders loan						848						(848)
Balance at December 31, 2023						518						2

Disclosure of joint ventures

Joint venture			Segment			Description
Tankers Agencies (UK) Ltd			Tankers			Parent company of Tankers International Ltd
Tankers International LLC			Tankers			The manager of the Tankers International Pool who commercially manages the majority of the Group's VLCCs
Bari Shipholding Ltd			Tankers			Formerly owner of 1 Suezmax, dormant company
Bastia Shipholding Ltd			Tankers			Formerly owner of 1 Suezmax, liquidation is in process
TI Africa Ltd			FSO			Operator and owner of a single floating storage and offloading facility (FSO Africa), as from June 7, 2022 100% subsidiary *
TI Asia Ltd			FSO			Operator and owner of a single floating storage and offloading facility (FSO Asia), as from June 7, 2022 100% subsidiary *

* FSO Asia and FSO Africa are on a time charter contract to North Oil Company (NOC), the new operator of Al Shaheen field, until mid 2032.

Disclosure of interests in joint ventures

						Country of incorporation						Consolidation method						Ownership interest
																		December 31, 2023						December 31, 2022						December 31, 2021
Parent
Euronav NV						Belgium						full						100.00		%				100.00		%				100.00		%
Euronav NV, Antwerp, Geneva (branch office)
Euronav NV, London (branch office)
Subsidiaries
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		%
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		%				100.00		%
Gener8 Maritime Subsidiary New IV Inc.						Marshall Islands						full						100.00		%				100.00		%				100.00		%
Gener8 Maritime Management LLC						Marshall Islands						full						100.00		%				100.00		%				100.00		%
TI Africa Ltd						Hong Kong						full						100.00		%				100.00		%				NA
TI Asia Ltd						Hong Kong						full						100.00		%				100.00		%				NA
Joint ventures
TI Africa Ltd						Hong Kong						equity						NA						NA						50.00		%
TI Asia Ltd						Hong Kong						equity						NA						NA						50.00		%
Tankers Agencies (UK) Ltd						UK						equity						50.00		%				50.00		%				50.00		%
Tankers International LLC						Marshall Islands						equity						50.00		%				50.00		%				50.00		%
Bari Shipholding Ltd						Hong Kong						equity						50.00		%				50.00		%				50.00		%
Bastia Shipholding Ltd						Hong Kong						equity						50.00		%				50.00		%				50.00		%

(in thousands of USD)						December 31, 2023						December 31, 2022
Assets
Interest in joint ventures						518						1,423
Interest in associates						—						—
TOTAL ASSETS						518						1,423
Liabilities
Interest in joint ventures						—						—
Interest in associates						—						—
TOTAL LIABILITIES						—						—

The following table contains summarized financial information for all of the Group's joint ventures:

																																																Asset
(in thousands of USD)																																																TI Africa Ltd						TI Asia Ltd						Tankers Agencies (UK) Ltd (see Note 25)						TI LLC (see Note 25)						Bari Shipholding Ltd						Bastia Shipholding Ltd						Total
At December 31, 2021
Percentage ownership interest																																																50		%				50		%				50		%				50		%				50		%				50		%
Non-Current assets																																																108,245						102,454						503						—						15,210						—						226,413
of which vessel																																																108,245						102,454						—						—						15,210						—						225,910
Current Assets																																																10,883						10,073						295,289						231						6,582						403						323,461
of which cash and cash equivalents																																																1,799						984						4,059						—						17						320						7,179
Non-Current Liabilities																																																33,755						10,245						66						—						20,228						—						64,295
of which bank loans																																																—						—						—						—						—						—						—
Current Liabilities																																																25,153						24,305						290,626						68						4,466						112						344,731
of which bank loans																																																20,075						19,361						51,500						—						—						—						90,937
Net assets (100%)																																																60,221						77,977						5,100						163						(2,903)						290						140,848
Group's share of net assets																																																30,110						38,988						3,106						96						(1,451)						145						70,995
Shareholders loans to joint venture																																																11,465						—						—						—						20,228						—						31,694
Net Carrying amount of interest in joint venture																																																30,110						38,988						3,106						96						—						145						72,446
Remaining shareholders loan to joint venture																																																11,465						—						—						—						18,777						—						30,242
Revenue																																																50,105						50,160						649,665						—						11,872						—						761,801
Depreciations and amortization																																																(10,092)						(9,706)						(39)						—						(4,869)						—						(24,706)
Interest Expense																																																(2,005)						(1,943)						(1,054)						—						(1,932)						(1)						(6,934)
Income tax expense																																																(2,646)						(2,626)						(141)						—						—						—						(5,413)
Profit (loss) for the period (100%)																																																25,357						25,180						642						(19)						(5,464)						121						45,816
Other comprehensive income (100%)																																																971						930						—						—						—						—						1,902
Group's share of profit (loss) for the period																																																12,678						12,590						391						(11)						(2,732)						60						22,976
Group's share of other comprehensive income																																																486						465						—						—						—						—						951

																								Asset
(in thousands of USD)																								TI Africa Ltd						TI Asia Ltd						Tankers Agencies (UK) Ltd (see Note 25)						TI LLC (see Note 25)						Bari Shipholding Ltd						Bastia Shipholding Ltd						Total
At December 31, 2022
Percentage ownership interest																								50		%				50		%				50		%				50		%				50		%				50		%
Non-Current assets																								—						—						153						—						—						—						153
of which vessel																								—						—						—						—						—						—						—
Current Assets																								—						—						504,397						206						131						—						504,734
of which cash and cash equivalents																								—						—						2,453						—						101						—						2,554
Non-Current Liabilities																								—						—						30						—						1,700						—						1,730
of which bank loans																								—						—						—						—						—						—						—
Current Liabilities																								—						—						502,547						63						83						—						502,693
of which bank loans																								—						—						75,500						—						—						—						75,500
Net assets (100%)																								—						—						1,973						143						(1,652)						—						464
Group's share of net assets																								—						—						1,202						84						(826)						—						460
Shareholders loans to joint venture																								—						—						—						—						850						—						850
Net Carrying amount of interest in joint venture																								—						—						1,202						84						—						—						1,286
Remaining shareholders loan to joint venture																								—						—						—						—						24						—						24
Revenue																								20,729						20,729						1,172,698												2,139						—						1,216,295
Depreciations and amortization																								(2,998)						(2,811)						(39)												(479)						—						(6,327)
Interest expense																								(428)						(413)						(954)												171						—						(1,625)
Income tax expense																								1,599						1,600						(117)												—						—						3,082
Profit (loss) for the period (100%)																								14,997						14,858						185						(36)						5,250						10						35,265
Other comprehensive income (100%)																								170						149						—						—						—						—						319
Group's share of profit (loss) for the period																								7,499						7,429						113						(21)						2,625						5						17,650
Group's share of other comprehensive income																								85						74						—						—						—						—						159

																																	Asset
(in thousands of USD)																																				Tankers Agencies (UK) Ltd (see Note 25)						TI LLC (see Note 25)						Bari Shipholding Ltd												Total
At December 31, 2023
Percentage ownership interest																																				50		%				50		%				50		%
Non-Current assets																																				1,754						—						—												1,754
of which vessel																																				—						—						—												—
Current Assets																																				391,037						150						118												391,305
of which cash and cash equivalents																																				3,046						—						88												3,134
Non Current Liabilities																																				1,360						—						1,700												3,060
of which bank loans																																				—						—						—												—
Current Liabilities																																				390,323						66						114												390,503
of which bank loans																																				42,500						—						—												42,500
Net assets (100%)																																				1,108						84						(1,696)												(503)
Group's share of net assets																																				675						49						(848)												(123)
Shareholders loans to joint venture																																				—						—						850												850
Net Carrying amount of interest in joint venture																																				675						49						—												725
Remaining shareholders loan to joint venture																																				—						—						2												2
Revenue																																				1,685,928						—						—												1,685,928
Depreciations and amortization																																				(84)						—						—												(84)
Interest expense																																				(2,806)						—						—												(2,806)
Income tax expense																																				(79)						—						—												(79)
Profit (loss) for the period (100%)																																				(1,445)						(43)						(43)												(1,532)
Other comprehensive income (100%)																																				—						—						—												—
Group's share of profit (loss) for the period																																				(880)						(25)						(22)												(927)
Group's share of other comprehensive income																																				—						—						—												—

(in thousands of USD)						2023						2022
Cash and cash equivalents of the joint ventures						3,134						2,554
Group's share of cash and cash equivalents						1,902						1,547

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Interests in Other Entities [Abstract]

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The disclosure of interests in associates. [Refer: Associates [member]]

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-Name IFRS
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The disclosure of interests in joint arrangements. A joint arrangement is an arrangement of which two or more parties have joint control.

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-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph 2
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The disclosure of the reconciliation of the summarised financial information of a joint venture accounted for using the equity method to the carrying amount of the reporting entity's interest in the joint venture. [Refer: Carrying amount [member]; Joint ventures [member]]

+ References

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-IssueDate 2023-01-01
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