XML 575 R32.htm IDEA: XBRL DOCUMENT v3.25.1
Group entities
 12 Months Ended
Dec. 31, 2024
Interests in Other Entities [Abstract]  
Group entities Group entities
 Country of incorporationConsolidation methodOwnership interest
December 31, 2024December 31, 2023December 31, 2022
Parent
CMB.TECH NV
Belgiumfull100.00 %100.00 %100.00 %
Euronav NV, Antwerp, Geneva (branch office)
Euronav NV, London (branch office)
Subsidiaries
Euronav Shipping NVBelgiumfull100.00 %100.00 %100.00 %
Euronav (UK) Agencies Limited
United Kingdom
full100.00 %100.00 %100.00 %
Euronav Luxembourg SALuxembourgfull100.00 %100.00 %100.00 %
Euronav SAS
Francefull100.00 %100.00 %100.00 %
Euronav Ship Management SAS
Francefull100.00 %100.00 %100.00 %
Euronav Ship Management Antwerp (branch office)
Euronav Ship Management LtdLiberiafullNA100.00 %100.00 %
Euronav Ship Management Hellas (branch office)  
Euronav Hong Kong Ltd
Hong Kongfull100.00 %100.00 %100.00 %
Euro-Ocean Ship Management (Cyprus) Ltd
Cyprusfull100.00 %100.00 %100.00 %
Euronav Singapore Pte. Ltd
Singaporefull100.00 %100.00 %100.00 %
Green Bulker One Pte Ltd.
Singaporefull100.00 %NANA
Green Bulker Two Pte Ltd.
Singaporefull100.00 %NANA
Green Bulker Three Pte Ltd.
Singaporefull100.00 %NANA
Euronav MI II Inc
Marshall Islandsfull100.00 %100.00 %100.00 %
Gener8 Maritime Subsidiary II Inc.Marshall Islandsfull100.00 %100.00 %100.00 %
Gener8 Maritime Subsidiary New IV Inc.Marshall Islandsfull100.00 %100.00 %100.00 %
Gener8 Maritime Management LLCMarshall Islandsfull100.00 %100.00 %100.00 %
TI Africa LtdHong Kongfull100.00 %100.00 %100.00 %
TI Asia LtdHong Kongfull100.00 %100.00 %100.00 %
CMB TECH Namibia (Pty) Ltd
Namibia
full100.00 %NANA
CMB.TECH Namibia Properties (Pty) Ltd
Namibia
full100.00 %NANA
CMB.TECH Belgium NV
Belgium
full100.00 %NANA
CMB.TECH Industry NV
Belgium
full100.00 %NANA
CMB.TECH International NV
Belgium
full100.00 %NANA
CMB.TECH Netherlands BV
Netherlands
full100.00 %NANA
CMB.TECH Enterprises NV
Belgium
full100.00 %NANA
CMB.TECH Technology and development centre Limited
United Kingdom
full100.00 %NANA
CTV Crewing Services Limited
United Kingdom
full100.00 %NANA
H2 Infra NV
Belgium
full100.00 %NANA
Ammonia Carrier AS
Norway
full100.00 %NANA
Windcat Workboats (Ireland) Limited
Ireland
full100.00 %NANA
Windcat Workboats (Scotland) Limited
United Kingdom
full100.00 %NANA
Windcat Workboats (Wales) CYF
United Kingdom
full100.00 %NANA
Windcat Workboats 2 Ltd
Guernsey
full100.00 %NANA
Windcat Workboats BV
Netherlands
full100.00 %NANA
Windcat Workboats Holdings Limited
United Kingdom
full100.00 %NANA
Windcat Workboats International BV
Netherlands
full100.00 %NANA
Windcat Workboats International Ltd
Guernsey
full100.00 %NANA
Windcat Workboats Limited
United Kingdom
full100.00 %NANA
Joint ventures
Tankers Agencies (UK) Ltd
United Kingdom
equity50.00 %50.00 %50.00 %
Tankers International LLCMarshall Islandsequity50.00 %50.00 %50.00 %
Bari Shipholding LtdHong Kongequity50.00 %50.00 %50.00 %
Bastia Shipholding LtdHong KongequityNA50.00 %50.00 %
be Hydro BV
Belgium
equity
50.00 %NANA
Cleanergy Solutions (Namibia) (Pty) Ltd
Namibia
equity
49.00 %NANA
FRS Windcat Offshore Logistics GmbH
Germany
equity
50.00 %NANA
FRS Windcat Offshore Logistics Limited
Cyprus
equity
50.00 %NANA
FRS Windcat Polska Sp.z.o.o
Poland
equity
50.00 %NANA
JPN H2YDRO CO. Ltd
Japan
equity
50.00 %NANA
TSM Windcat sas
France
equity
50.00 %NANA

On February 7, 2024, CMB.TECH held a Special Meeting of Shareholders to approve the purchase of 100% of the shares of CMB.TECH NV for a total purchase price of $1.15 billion in cash (see Note 26). CMB.TECH is a diversified maritime group. CMB.TECH builds, owns, operates and designs large marine and industrial applications that run on dual-fuel diesel-hydrogen and diesel-ammonia engines and monofuel hydrogen engines. CMB.TECH offers hydrogen and ammonia fuel that it either produces or sources from external producers to its customers. CMB.TECH is active throughout the full hydrogen value chain through three different divisions: Marine, H2 infra and H2 Industry. The Company assessed the accounting treatment of the acquisition and concluded that the transaction was accounted for as a common control transaction. Therefore IFRS 3 has not been applied.

On April 16, 2024, CMB.TECH and Anglo-Eastern Univan Group (“Anglo-Eastern”) concluded a Heads of Agreement for the sale and purchase of Euronav Ship Management Hellas (“ESMH”), CMB.TECH’s ship management arm. CMB.TECH and Anglo-Eastern intend to join forces through this sale, with the latter assuming ownership of ship management responsibilities for the vessels currently under ESMH on an “as is” basis. This transaction will provide Anglo-Eastern with a strong local presence in the Greek market while also greatly enhancing its footprint in large crude oil tankers. Post-integration, ESMH will become part of Anglo-Eastern’s global network, offering the combined entity a wide range of growth opportunities in different regions and ship types. The transaction has been concluded on June 18, 2024 and ESMH has been deconsolidated from the Group as from that date. The Company realized a gain of $19.7 million on this sale and has been recognized under other operating income (see Note 4).
On July 27, 2024 the joint venture, Bastia Shipholding Ltd, was dissolved.

In the fourth quarter of 2024, Green Bulker One Pte Ltd, Green Bulker Two Pte Ltd and Green Bulker Three Pte Ltd were established and incorporated.

At December 31, 2024, the Group held 50% of the voting rights in Tankers Agencies (UK) Ltd but held 61% of the outstanding shares that participate in the result of the entity.

At December 31, 2024, the Group held 50% of the voting rights in Tankers International LLC but held 59% of the outstanding shares that participate in the result of the entity.

CMB.TECH has acquired in 2022 the remaining 50% in TI Asia Ltd. and TI Africa Ltd. CMB.TECH already had 50% in these 2 joint ventures which were then recorded as equity investees, and signed on June 7, 2022 a Share Sale and Purchase Agreement with the JV partner International Seaways, Inc. to take control over these 2 joint ventures by purchasing the remaining 50% of the shares. The 2 entities are fully consolidated as of June 7, 2022.

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