Euronav Compass 📌

Subject: Overview and Analysis of Euronav’s Corporate Publication Date: October 26, 2023 Prepared By: AI Research Assistant

The name Compass is apt. Beyond navigation, the vessel is a floating data center. Euronav outfitted the ship with its proprietary "Euronav Connected Ship" platform.

Euronav reports its earnings in TCE per day. As of recent market cycles, VLCC rates have fluctuated between $15,000/day (break-even levels) and $100,000/day (supply shock levels). The Euronav Compass can generate massive cash flow during geopolitical disruptions (e.g., the Russian-Ukraine conflict rerouted trade flows, increasing ton-miles for VLCCs).

How does the Euronav Compass stack up against platforms like Kpler, Vortexa, or MarineTraffic? Euronav Compass

| Feature | Euronav Compass | Kpler/Vortexa | MarineTraffic | | :--- | :--- | :--- | :--- | | Fleet Scope | Only Euronav vessels (approx. 70+ tankers) | Global (all vessels) | Global (all vessels) | | Data Depth | Extremely deep (engine hours, crew rotations, internal TCE) | Medium (cargo tracking, bill of lading matching) | Shallow (position only) | | Market Commentary | Proprietary Euronav insights | Third-party or algorithmic | None | | Cost | Free for approved counterparties | $20k+/year | Freemium |

Verdict: The Euronav Compass is a "specialized scalpel," not a "global map." You use it to understand one of the world’s largest owners intimately. You use Kpler or Vortexa to see the entire market.

Euronav historically managed a dual strategy: The name Compass is apt

It is worth noting that in 2023-2024, Euronav underwent a significant restructuring following the departure of the Saverys family vs. CMB.TECH. However, the physical assets—including the Euronav Compass—remain core to the fleet’s ability to serve oil majors like Shell, BP, and Vitol.

The primary directive of the Euronav Compass is decarbonization. With the IMO targeting net-zero greenhouse gas emissions by 2050, Euronav has adopted a proactive rather than reactive stance.

2.1. The Dual-Fuel Strategy Euronav has recognized that there is no single "silver bullet" fuel for the future. Consequently, the company has invested heavily in dual-fuel technology. By ordering new vessels capable of running on Liquefied Natural Gas (LNG) alongside conventional fuels, Euronav utilizes LNG as a transition fuel. This strategy offers an immediate reduction in carbon intensity and eliminates virtually all sulfur oxides (SOx) and particulate matter, providing a "bridge" to future carbon-neutral fuels like ammonia or hydrogen. It is worth noting that in 2023-2024, Euronav

2.2. Ammonia-Ready Vessels Looking beyond LNG, Euronav’s newbuild program includes specifications for "ammonia-ready" vessels. This forward-looking architecture ensures that ships constructed today will not become stranded assets in the 2030s and 2040s. This adaptability is central to the compass metaphor—adjusting the sails before the wind changes.

2.3. Operational Efficiency Beyond hardware, Euronav employs advanced operational measures. This includes the use of air lubrication systems to reduce hull friction, advanced anti-fouling coatings, and weather routing software to optimize voyage efficiency. These incremental gains collectively contribute to a significant reduction in the Carbon Intensity Indicator (CII) ratings of their fleet.