Euronav (CMBT) 6-K 2 Oct 19 2019 H1 Condensed consolidated statement of financial position Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	EURONAV NV
Entity Central Index Key (CIK)	0001604481
Document Type	6-K
Document Period End Date	Jun. 30, 2019
Amendment flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	H1

Condensed consolidated statemen

Condensed consolidated statement of financial position - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	[1]
Non-current assets
Vessels (Note 4, 12)	$ 3,340,837	$ 3,520,067
Right-of-use assets (Note 12)	73,382	0
Other tangible assets (Note 12)	2,168	1,943
Intangible assets	49	105
Receivables (Note 19)	38,275	38,658
Investments in equity accounted investees (Note 23)	40,457	43,182
Deferred tax assets	4,259	2,255
Total non-current assets	3,499,427	3,606,210
Current assets
Bunker inventory (Note 20)	146,181	0
Non-current assets held for sale (Note 8)	23,212	42,000
Trade and other receivables (Note 21)	243,372	305,726
Current tax assets	213	282
Cash and cash equivalents	203,636	173,133
Total current assets	616,614	521,141
TOTAL ASSETS	4,116,041	4,127,351
Equity
Share capital	239,148	239,148
Share premium	1,702,549	1,702,549
Translation reserve (Note 13)	376	411
Hedging reserve (Note 13)	(7,791)	(2,698)
Treasury shares (Note 13)	(41,646)	(14,651)
Retained earnings	302,701	335,764
Equity attributable to owners of the Company	2,195,337	2,260,523
Non-current liabilities
Bank loans (Note 15)	1,249,504	1,421,465
Other notes (Note 15)	198,264	148,166
Lease liabilities (Note 4, 15)	59,547	0
Other payables (Note 16)	3,945	1,451
Employee benefits	4,804	4,336
Provisions (Note 22)	1,591	4,288
Total non-current liabilities	1,517,655	1,579,706
Current liabilities
Trade and other payables (Note 16)	103,199	87,225
Current tax liabilities	172	41
Bank loans (Note 15)	111,442	138,537
Other borrowings (Note 15)	159,038	60,342
Lease liabilities (Note 4, 15)	28,898	0
Provisions (Note 22)	300	977
Total current liabilities	403,049	287,122
TOTAL EQUITY and LIABILITIES	$ 4,116,041	$ 4,127,351
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Condensed consolidated statem_2

Condensed consolidated statement of profit or loss - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	[1]
Shipping income
Revenue (Note 9)	$ 401,936,000	$ 202,748,000
Gains on disposal of vessels/other tangible assets (Note 12)	455,000	10,175,000
Other operating income (Note 9)	3,160,000	2,133,000
Total shipping income	405,551,000	215,056,000
Operating expenses
Voyage expenses and commissions (Note 10)	(74,501,000)	(46,277,000)
Vessel operating expenses (Note 10)	(107,375,000)	(78,870,000)
Charter hire expenses (Note 10)	0	(15,432,000)
Loss on disposal of vessels/other tangible assets (Note 12)	(74,000)	0
Depreciation tangible assets (Note 12)	(168,509,000)	(112,926,000)
Depreciation intangible assets	(32,000)	(51,000)
General and administrative expenses (Note 10)	(36,376,000)	(31,150,000)
Total operating expenses	(386,867,000)	(284,706,000)
RESULT FROM OPERATING ACTIVITIES	18,684,000	(69,650,000)
Finance income (Note 11)	15,126,000	7,185,000
Finance expenses (Note 11)	(62,502,000)	(33,978,000)
Net finance expenses	(47,376,000)	(26,793,000)
Gain on bargain purchase	0	36,280,000
Share of profit (loss) of equity accounted investees (net of income tax) (Note 23)	7,660,000	8,420,000
PROFIT (LOSS) BEFORE INCOME TAX	(21,032,000)	(51,743,000)
Income tax benefit (expense)	2,002,000	141,000
PROFIT (LOSS) FOR THE PERIOD	(19,030,000)	(51,602,000)
Attributable to:
Owners of the company (Note 14)	$ (19,030,395)	$ (51,602,299)
Basic earnings per share (in dollars per share)	$ (0.09)	$ (0.31)
Diluted earnings per share (in dollars per share)	$ (0.09)	$ (0.31)
Weighted average number of shares (basic) (in shares)	216,994,426	164,550,509
Weighted average number of shares (diluted) (in shares)	216,994,426	164,634,673
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Condensed consolidated statem_3

Condensed consolidated statement of comprehensive income - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	[1]
Statement of comprehensive income [abstract]
Profit/(loss) for the period	$ (19,030)	$ (51,602)
Items that are or may be reclassified to profit or loss:
Foreign currency translation differences	(35)	(44)
Cash flow hedges - effective portion of changes in fair value (Note 13)	(5,093)	(201)
Equity-accounted investees - share of other comprehensive income (Note 23)	(1,034)	(160)
Other comprehensive (loss) / income, net of tax	(6,162)	(405)
Total comprehensive (loss) / income for the period	(25,192)	(52,007)
Attributable to:
Owners of the company	$ (25,192)	$ (52,007)
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Condensed consolidated statem_4

Condensed consolidated statement of changes in equity - USD ($) $ in Thousands		Total		Share capital	Share premium	Translation reserve	Hedging reserve	Treasury shares	Retained earnings	Adjustment on initial application of IFRS 15 (net of tax)	Adjustment on initial application of IFRS 15 (net of tax)Retained earnings	Adjustment on initial application of IFRS 9 (net of tax)	Adjustment on initial application of IFRS 9 (net of tax)Retained earnings
Adjustment on initial application										$ (1,729)	$ (1,729)	$ (16)	$ (16)
Beginning balance adjusted	[1]	$ 1,844,615		$ 173,046	$ 1,215,227	$ 568	$ 0	$ (16,102)	$ 471,876
Beginning balance at Dec. 31, 2017		1,846,360		173,046	1,215,227	568	0	(16,102)	473,621
Profit (loss) for the period		(51,602)	[2]						(51,602)
Total other comprehensive income (Note 13)		(405)	[2]			(44)	(201)		(160)
Total comprehensive (loss) / income for the period		(52,007)	[2]			(44)	(201)		(51,762)
Transactions with owners of the company
Issue of ordinary shares related to business combinations		553,424		66,102	487,322
Dividends to equity holders (Note 13)		(9,489)							(9,489)
Equity-settled share-based payment		37							37
Total transactions with owners		543,972		66,102	487,322				(9,452)
Ending balance at Jun. 30, 2018		2,336,580		239,148	1,702,549	524	(201)	(16,102)	410,662
Beginning balance at Dec. 31, 2018	[2]	2,260,523		239,148	1,702,549	411	(2,698)	(14,651)	335,764
Profit (loss) for the period		(19,030)							(19,030)
Total other comprehensive income (Note 13)		(6,162)				(35)	(5,093)		(1,034)
Total comprehensive (loss) / income for the period		(25,192)				(35)	(5,093)		(20,064)
Transactions with owners of the company
Dividends to equity holders (Note 13)		(12,999)							(12,999)
Treasury shares acquired (Note 13)		(26,995)						(26,995)
Total transactions with owners		(39,994)		0	0			(26,995)	(12,999)
Ending balance at Jun. 30, 2019		$ 2,195,337		$ 239,148	$ 1,702,549	$ 376	$ (7,791)	$ (41,646)	$ 302,701
[1]	The Group has initially applied IFRS 15 and IFRS 9 at January 1, 2018. Under the transition methods chosen, comparative information is not restated but the opening balance of 2018 has been adjusted following the application of IFRS 15 on Revenue Recognition and IFRS 9 on Financial Instruments.
[2]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Profit/(loss) for the period		$ (19,030)	$ (51,602)	[1]
Adjustments for:		206,157	84,292	[1]
Depreciation of tangible assets (Note 12)		168,509	112,926	[1]
Depreciation of intangible assets		32	51	[1]
Provisions		283	(3)	[1]
Tax (benefits)/expenses		(2,002)	(141)	[1]
Share of profit of equity-accounted investees, net of tax (Note 23)		(7,660)	(8,420)	[1]
Net finance expense (Note 11)		47,376	26,793	[1]
(Gain)/loss on disposal of assets (Note 12)		(381)	(10,175)	[1]
Equity-settled share-based payment transactions		0	37	[1]
Amortization of deferred capital gain		0	(496)	[1]
Gain on bargain purchase		0	(36,280)	[1]
Changes in working capital requirements		(68,253)	(23,136)	[1]
Change in cash guarantees		(6)	31	[1]
Change in stocks (Note 20)		(146,181)	0	[1]
Change in trade receivables (Note 21)		1,249	(325)	[1]
Change in accrued income (Note 21)		2,174	(2,796)	[1]
Change in deferred charges (Note 21)		23,386	(13,186)	[1]
Change in other receivables (Note 21)		39,461	(3,760)	[1]
Change in trade payables (Note 16)		14,320	(838)	[1]
Change in accrued payroll (Note 16)		(3,281)	(13,037)	[1]
Change in accrued expenses (Note 16)		(5,438)	13,380	[1]
Change in deferred income (Note 16)		7,131	(5,109)	[1]
Change in other payables		(929)	2,185	[1]
Change in provisions for employee benefits		(139)	319	[1]
Income taxes paid during the period		197	18	[1]
Interest paid		(46,493)	(21,394)	[1]
Interest received		3,606	547	[1]
Dividends received from equity-accounted investees (Note 23)		9,350	0	[1]
Net cash from (used in) operating activities		85,534	(11,275)	[1]
Net cash from (used in) investing activities
Acquisition of vessels and vessels under construction (Note 12)		(3,849)	(147,426)	[1]
Proceeds from the sale of vessels (Note 12)		48,615	10,175	[1]
Acquisition of other tangible assets (Note 12)		(571)	(272)	[1]
Acquisition of intangible assets		0	(1)	[1]
Proceeds from the sale of other (in)tangible assets (Note 12)		13	0	[1]
Loans from (to) related parties (Note 23)		2,450	118,700	[1]
Net cash received from business combinations		0	126,288	[1]
Proceeds from sale of subsidiaries		0	120,025	[1]
Lease payments received from finance leases		617	0	[1]
Net cash from (used in) investing activities		47,275	227,489	[1]
Net cash from (used in) financing activities
(Purchase of) Proceeds from sale of treasury shares (Note 13)		(19,610)	0	[1]
Proceeds from new borrowings (Note 15)		368,697	480,056	[1]
Repayment of borrowings (Note 15)		(420,866)	(621,890)	[1]
Repayment of lease liabilities (Note 15)		(17,043)	0	[1]
Transaction costs related to issue of loans and borrowings (Note 15)		(181)	(1,649)	[1]
Dividends paid (Note 13)		(13,016)	(9,501)	[1]
Net cash from (used in) financing activities		(102,019)	(152,984)	[1]
Net increase (decrease) in cash and cash equivalents		30,790	63,230	[1]
Net cash and cash equivalents at the beginning of the period	[1]	173,133	143,648
Effect of changes in exchange rates		(287)	(599)	[1]
Net cash and cash equivalents at the end of the period		203,636	206,279	[1]
Net cash and cash equivalents at the end of the period, of which restricted cash (Note 24)		$ 0	$ 96,689	[1]
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Reporting entity

Reporting entity	6 Months Ended
	Jun. 30, 2019
Corporate Information1 [Abstract]
Reporting entity	Reporting entity Euronav NV (the “Company”) is a company domiciled in Belgium. The address of the Company’s registered office is De Gerlachekaai 20, 2000 Antwerpen, Belgium. The condensed consolidated interim financial statements ("interim financial statements") as at and for the six months ended June 30, 2019 comprise the Company and its subsidiaries (together referred to as Euronav or the “Group”) and the Group’s interest in associates and joint ventures.

Basis of preparation

Basis of preparation	6 Months Ended
	Jun. 30, 2019
Disclosure Of General Information About Financial Statements [Abstract]
Basis of preparation	Basis of preparation These condensed consolidated interim financial statements have been prepared in accordance with lAS 34 Interim Financial Reporting. They do not include all the information required for a complete set of IFRS annual financial statements and should therefore be read in conjunction with the consolidated financial statements for the year ended December 31, 2018 that have been prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). This is the first set of the Group's financial statements in which IFRS 16 has been applied. Changes to significant accounting policies are described in Note 4. These condensed consolidated interim financial statements were authorized for issue by the Board of Directors on October 2, 2019.

Use of judgments and estimates

Use of judgments and estimates	6 Months Ended
	Jun. 30, 2019
Disclosure Of Changes In Accounting Policies, Accounting Estimates And Errors [Abstract]
Use of judgments and estimates	Use of judgements and estimates The preparation of interim financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. The significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual financial statements, except for the new significant judgments related to lessee accounting under IFRS 16, which are described in Note 4. Measurement of fair values A number of the Group's accounting policies and disclosures require the measurement of fair values, for both financial and non-financial assets and liabilities. The Group has an established control framework with respect to the measurement of fair values. This includes a valuation team that has overall responsibility for overseeing all significant fair value measurements, including Level 3 fair values, and reports directly to the CFO. The valuation team regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the valuation team assesses the evidence obtained from the third parties to support the conclusion that such valuations meet the requirements of IFRS, including the level in the fair value hierarchy in which such valuations should be classified. Significant valuation issues are reported to the Group Audit and Risk Committee. When measuring the fair value of an asset or a liability, the Group uses market observable data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows. • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). • Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). If the inputs used to measure the fair value of an asset or a liability might be categorized in different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The Group recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred. Further information about the assumptions made in measuring fair values is included in Note 17.

Changes in significant accounti

Changes in significant accounting policies	6 Months Ended
	Jun. 30, 2019
Disclosure Of Changes In Accounting Policies, Accounting Estimates And Errors [Abstract]
Changes in significant accounting policies	Changes in significant accounting policies Except as described below, the accounting policies and calculation methods adopted in the preparation of these condensed consolidated interim financial statements are consistent with those applied in the Group's consolidated financial statements as at and for the year ended December 31, 2018 , that have been prepared in accordance with IFRS. The changes in accounting policies are also expected to be reflected in the Group's consolidated financial statements as at and for the year ending December 31, 2019. In anticipation of changes in the regulation starting on January 1, 2020, the Group has been purchasing compliant bunker fuel for future use by its vessels. Bunkers are presented as inventory and are accounted for on a weighted average basis. The cost of inventories comprises of the purchase price, fuel inspection costs and transport and handling costs. The effective portion of the change in fair value of derivatives designated as cash flow hedges of the underlying price index between the date of purchase and the date of delivery is also recognized as an inventory cost. The ineffective portion of the change in fair value of these derivatives is recognized directly in profit or loss. The inventory is accounted for at the lower of cost and net realizable value with cost being determined on a weighted average basis. The Group has initially adopted IFRS 16 Leases from January 1, 2019. IFRS 16 introduced a single, on-balance sheet accounting model for lessees. As a result, the Group, as a lessee, has recognized right-of-use assets representing its right to use the underlying assets and lease liabilities representing its obligation to make lease payments. Lessor accounting remains similar to previous accounting policies. The Group has applied IFRS 16 using the modified retrospective approach under which the comparative information presented for 2018 has not been restated - i.e. it is presented, as previously reported, under IAS 17 and related interpretations. The details of the changes in accounting policies are described below. A number of other new standards are effective from January 1, 2019 but they do not have a material effect on the Group's financial statements. A. Definition of a lease Previously, the Group determined at contract inception whether an arrangement was or contained a lease under IFRIC 4 Determining Whether an Arrangement contains a Lease. The Group now assesses whether a contract is or contains a lease based on the new definition of a lease. Under IFRS 16, a contract is, or contains, a lease if the contract conveys a right to control the use of an identified asset for a period of time in exchange for consideration. On transition to IFRS 16, the Group has elected to apply the practical expedient not to recognize leases with a remaining lease term of less than one year as of January 1, 2019. The practical expedients low value leases, hindsight, discount rate, and no initial direct costs were not used. Lease and non-lease components in the contracts are separated. On transition to IFRS 16, the Group elected to apply the practical expedient to grandfather the assessment of which transactions are leases. B. As a lessee The Group leases primarily vessels under bare boat charters, office rental and company cars. As a lessee, the Group previously classified leases as operating or finance leases based on its assessment of whether the lease transferred substantially all of the risks and rewards of ownership. Under IFRS 16, the Group recognizes right-of-use assets and lease liabilities for most leases - i.e. these leases are on-balance sheet. However, the Group has elected not to recognize right-of-use assets and lease liabilities for lease contracts with a remaining lease term of less than one year. Accordingly, those lease payments are recognized as an expense and there was no impact on transition. i. Significant accounting policies The Group recognizes a right-of-use asset and a lease liability at the lease commencement date. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group's incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The Group has applied judgement to determine the lease term for some lease contracts in which it is a lessee that include renewal options. The assessment of whether the Group is reasonably certain to exercise such options impacts the lease term, which significantly affects the amount of lease liabilities and right-of-use assets recognized. ii. Transition Previously, the Group classified certain leases as operating leases under IAS 17. This includes operating leases for vessels under bare boat charters, office rental and company cars. At transition, for leases classified as operating leases under IAS 17, lease liabilities were measured at the present value of the remaining lease payments, discounted at the Group's incremental borrowing rate as January 1, 2019. Right-of-use assets are measured at an amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments. The Group used the practical expedient not to recognize lease contracts with a remaining lease term of less than one year. C. As a lessor As a lessor the Group leases out some of its vessels under long-term time charter agreements and a number of vessels are employed in the TI Pool under floating time charter agreements. Further the Group subleases office space to third parties in certain leased offices of Euronav UK and Euronav MI II Inc (formerly Gener8 Maritime Inc.). The floating time charter agreements under which vessels are employed by the TI Pool do not meet the definition of a lease under IFRS 16 and accordingly are accounted for under IFRS 15 Revenue from Contracts with Customers. This did not have a material impact on the Group’s consolidated revenue. For certain vessels employed under long-term time charter agreements, the adoption of IFRS 16 required the Group to separate the lease and non-lease component in the contract, with the lease component qualified as operating lease and the non-lease component accounted for under IFRS 15. This did not have a material impact for the Group. D. Impacts on financial statements i. Impacts on transition On transition to IFRS 16, the Group recognized right-of-use assets and lease liabilities at January 1, 2019. The impact on transition is summarized below. (in million of USD) Impact of adopting IFRS 16 at January 1, 2019 Right-of-use assets 87.6 Lease liabilities 105.3 The right-of-use assets were reduced by USD 11.4 million which represents the lease receivables related to the subleases that qualify as finance lease under IFRS 16, by USD 3 million related to a deferred gain on a previous sale-and-leaseback transaction and by USD 3.2 million related to onerous lease contracts. The adoption of IFRS 16 did no t have an impact on retained earnings as of January 1, 2019. ii. Impacts for the period As a result of initially applying IFRS 16, in relation to the leases that were previously classified as operating leases, the Group recognized USD 87.9 million of right-of-use assets (gross) and USD 88.4 million of lease liabilities as at June 30, 2019. Also in relation to those leases under IFRS 16, the Group has recognized depreciation and interest costs, instead of operating lease expense. During the six months ended June 30, 2019, the Group recognized USD 14.5 million of depreciation charges and USD 2.7 million of interest costs from these leases.

Changes in consolidation scope

Changes in consolidation scope	6 Months Ended
	Jun. 30, 2019
Disclosure Of General Information About Financial Statements [Abstract]
Changes in consolidation scope	Changes in consolidation scope In comparison to the consolidation scope for the year ended December 31, 2018 , no new subsidiaries were established or acquired. In the first six months of 2019 the following subsidiaries were dissolved: GMR Strength LLC GMR Daphne LLC GMR Elektra LLC GMR Agamemnon LLC Gener8 Tankers 1 Inc. Gener8 Tankers 2 Inc. Gener8 Tankers 3 Inc. Gener8 Tankers 4 Inc. Gener8 Tankers 5 Inc. Gener8 Tankers 6 Inc. Gener8 Tankers 7 Inc. Gener8 Tankers 8 Inc. Gener8 Strength Inc. Gener8 Supreme Inc. Gener8 Andriotis Inc. Gener8 Miltiades Inc. Gener8 Success Inc. Gener8 Chiotis Inc. Vision Ltd. Consul Ltd.

Significant events

Significant events	6 Months Ended
	Jun. 30, 2019
Disclosure Of Significant Events [Abstract]
Significant events	Significant events Since the beginning of 2019, Euronav continued to buy back its own shares and owns at June 30, 2019 a total of 4,525,568 shares ( 2.06% of the total outstanding shares). On October 31, 2018, the Company sold the Suezmax Felicity (2009 - 157,667 dwt), for USD 42.0 million . This vessel was accounted for as a non-current asset held for sale as at December 31, 2018 and had a carrying value of USD 45.0 million . The vessel was delivered to its new owner on January 9, 2019 and the impairment loss of USD 3.0 million was recorded in 2018 (see Note 12). A transaction-based bonus plan in relation to the Gener8 transaction has been offered to key management personnel and was accepted by the beneficiaries in January 2019 (see Note 13). On February 4, 2019, Euronav’s CEO Paddy Rodgers announced his decision to step down from his role as CEO during 2019. On March 28, 2019, Euronav announced that, following a professional search and assessment process, the CFO at that time, Hugo De Stoop succeeded Paddy Rodgers as CEO of the Company. The recruitment process for a new CFO is ongoing. On February 20, 2019, Euronav sold the LR1 Genmar Compatriot (2004 – 72,768 dwt) for USD 6.75 million (see Note 12). The Company recorded a capital gain of USD 0.4 million in the second quarter of 2019 upon delivery of the vessel to its new owner on May 21, 2019. On June 14, 2019, Euronav Luxembourg S.A. completed successfully a tap issue of USD 50 million under its existing senior unsecured bonds. The bonds are guaranteed by Euronav NV, mature in May 2022 and carry a coupon of 7.50% The tap issue was priced at 101% of par value. On June 27, 2019, the Group entered into a USD 100.0 million senior secured amortizing revolving credit facility with a syndicate of banks and ABN Amro Bank also acting as Coordinator, Agent and Security Trustee. The purpose of the credit facility is to finance the purchase inventory of low sulphur fuel oil and components (see Note 15). In anticipation of changes in the regulation starting on January 1,2020, the Group has started purchasing compliant bunker fuel in the course of the first semester 2019 for future use by its vessels in 2020.

Segment reporting

Segment reporting	6 Months Ended
	Jun. 30, 2019
Operating Segments [Abstract]
Segment reporting	Segment reporting The Group distinguishes two operating segments: the operation of crude oil tankers on the international markets (Tankers) and the floating production, storage and offloading operations (FSO/FpSO). These two divisions operate in completely different markets, where in the latter the assets are tailor made or converted for specific long term projects. The tanker market requires a different marketing strategy as this is considered a very volatile market, contract duration is often less than two years an d the assets are to a big extent standardized. The segment profit or loss figures and key assets as set out below are presented to the executive committee on at least a quarterly basis to help the key decision makers in evaluating the respective segments. The Chief Operating Decision Maker (CODM) also receives the information per segment based on proportionate consolidation for the joint ventures and not by applying equity accounting. The reconciliation between the figures of all segments combined with the consolidated statements of financial position and profit or loss is presented in a separate column Equity-accounted investees. The Group did not identify any relevant geographic areas. The adoption of IFRS 16 on January 1, 2019 did not impact the identification of segments. (in thousands of USD) For the six month period ended For the six month period ended June 30, 2019 June 30, 2018 * Tankers FSO Less: Equity-accounted investees Total Tankers FSO Less: Equity-accounted investees Total Revenue 401,936 24,473 (24,473) 401,936 202,746 24,323 (24,321) 202,748 Profit (loss) before income tax (28,693) 8,464 (803) (21,032) (60,168) 9,279 (854) (51,743) (in thousands of USD) June 30, 2019 December 31, 2018 Tankers FSO Less: Equity-accounted investees Total Tankers FSO Less: Equity-accounted investees Total Non-current assets 3,460,885 141,925 (103,383) 3,499,427 3,564,943 151,258 (109,991) 3,606,210 Current assets 617,010 10,791 (11,187) 616,614 521,536 15,784 (16,179) 521,141 TOTAL ASSETS 4,077,895 152,716 (114,570) 4,116,041 4,086,479 167,042 (126,170) 4,127,351 Equity 2,157,187 38,150 — 2,195,337 2,219,648 40,874 1 2,260,523 Non-current liabilities 1,517,655 88,579 (88,579) 1,517,655 1,579,706 102,118 (102,118) 1,579,706 Current liabilities 403,053 25,987 (25,991) 403,049 287,125 24,050 (24,053) 287,122 TOTAL LIABILITIES 4,077,895 152,716 (114,570) 4,116,041 4,086,479 167,042 (126,170) 4,127,351 * The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Assets and liabilities held for

Assets and liabilities held for sale and discontinued operations	6 Months Ended
	Jun. 30, 2019
Non-Current Assets Held For Sale And Discontinued Operations [Abstract]
Assets and liabilities held for sale and discontinued operations	Assets and liabilities held for sale and discontinued operations Assets held for sale The assets held for sale can be detailed as follows: (in thousands of USD) June 30, 2019 December 31, 2018 Vessels 23,212 42,000 Of which in Tankers segment 23,212 42,000 Of which in FSO segment — — On July 12, 2019, the Company sold the VLCC V.K. Eddie (2005 - 305,261 dwt), for USD 38.0 million . This vessel was accounted for as a non-current asset held for sale as at June 30, 2019 , and had a carrying value of USD 23.2 million at that time. The vessel was delivered to its new owner on August 5, 2019. Taking into account USD 0.4 million of costs to sell (sales commissions), the gain on the sale of this vessel is expected to be USD 14.4 million . This gain will be recorded upon delivery of the vessel and will therefore be recorded in the third quarter of 2019. Discontinued operations As of June 30, 2019 and as of December 31, 2018 the Group had no operations that met the criteria of a discontinued operation.

Revenue and other operating inc

Revenue and other operating income	6 Months Ended
	Jun. 30, 2019
Analysis of income and expense [abstract]
Revenue and other operating income	Revenue and other operating income In the following table, revenue is disaggregated by type of contract. For the six month period ended (in thousands of USD) June 30, 2019 June 30, 2018 Tankers FSO Less: Equity-accounted investees Total Tankers FSO Less: Equity-accounted investees Total Pool Revenue 217,791 — — 217,791 80,085 — 2 80,087 Spot Voyages 154,339 — — 154,339 83,218 — — 83,218 Time Charters 29,806 24,473 (24,473) 29,806 39,443 24,323 (24,323) 39,443 Total revenue 401,936 24,473 (24,473) 401,936 202,746 24,323 (24,321) 202,748 Other operating income — — — 3,160 — — — 2,133 The increase in revenue is mostly related to the increase in pool and spot voyage revenue which is due to an increase in the fleet size as a consequence of the business combination with Gener8 Maritime Inc. and improved rates. This increase was partially offset by lower revenue from time charters due to unfavorable market conditions and a lower number of vessels on time charter. Other operating income includes revenues related to the daily standard business operation of the fleet and that are not directly attributable to an individual voyage.

Expenses for shipping activitie

Expenses for shipping activities	6 Months Ended
	Jun. 30, 2019
Analysis of income and expense [abstract]
Expenses for shipping activities	Expenses for shipping activities Voyage expenses and commissions For the six month period ended (in thousands of USD) June 30, 2019 June 30, 2018 Commissions paid (5,085) (2,742) Bunkers (52,716) (32,255) Other voyage related expenses (16,700) (11,280) Total voyage expenses and commissions (74,501) (46,277) The voyage expenses and commissions increased in the first six months of 2019 compared to the same period in 2018 because a lower proportion of vessels were on time charter contract in the first half of 2019, compared to the same period in 2018 and due to an increase in the fleet size as a consequence of the business combination with Gener8 Maritime Inc. For vessels operated on the spot market, voyage expenses are paid by the shipowner while voyage expenses for vessels under a time charter contract, are paid by the charterer. Voyage expenses for vessels operated in a Pool, are paid by the Pool. The majority of other voyage expenses are port costs, agency fees and agent fees paid to operate the vessels on the spot market. Port costs vary depending on the number of spot voyages performed, number and type of ports. Vessel operating expenses For the six month period ended (in thousands of USD) June 30, 2019 June 30, 2018 Operating expenses (99,487) (71,456) Insurance (7,888) (7,414) Total vessel operating expenses (107,375) (78,870) The operating expenses relate mainly to the crewing, technical and other costs to operate tankers. In the first six months of 2019 these expenses were higher compared to the same period in 2018 due to an increase in the fleet size as a consequence of the business combination with Gener8 Maritime Inc. Charter hire expenses For the six month period ended (in thousands of USD) June 30, 2019 June 30, 2018 Charter hire — — Bare boat hire — (15,432) Total charter hire expenses — (15,432) The bareboat charter-hire expenses in the first six months of 2018 are entirely attributable to the sale and leaseback agreement of four VLCCs ( Nautilus, Navarin, Neptun and Nucleus) , under a five year bareboat contract signed on December 16, 2016. Following the adoption of IFRS 16 on January 1, 2019, costs related to these bareboat agreements are recognized in depreciation for the depreciation of the right-of-use asset over the remaining lease term and finance expenses (see Note 4). General and administrative expenses For the six month period ended (in thousands of USD) June 30, 2019 June 30, 2018 Wages and salaries (16,182) (7,929) Social security costs (1,793) (1,863) Provision for employee benefits 139 (319) Equity-settled share-based payments — (37) Other employee benefits (1,617) (1,836) Employee benefits (19,453) (11,984) Administrative expenses (17,017) (17,083) Tonnage Tax 360 (2,086) Claims 17 — Provisions (283) 3 Total general and administrative expenses (36,376) (31,150) The general and administrative expenses which include amongst others: shore staff wages, director fees, consulting and audit fees and tonnage tax, increased in the first six months of 2019 compared to the same period in 2018. This increase was mainly related to the merger with Gener8 Maritime Inc. which had an impact on wages and salaries due to a higher number of staff and the settlement following the stepping down of the CEO Paddy Rodgers in the course of the first semester in 2019.

Net finance expense

Net finance expense	6 Months Ended
	Jun. 30, 2019
Financial Instruments [Abstract]
Net finance expense	Net finance expenses For the six month period ended (in thousands of USD) June 30, 2019 * June 30, 2018 Interest income 4,232 545 Foreign exchange gains 10,894 6,640 Finance income 15,126 7,185 Interest expense on financial liabilities measured at amortized cost (42,681 ) (23,203 ) Interest leasing (2,685 ) — Fair value adjustment on interest rate swaps (3,025 ) (38 ) Other financial charges (2,962 ) (3,539 ) Foreign exchange losses (11,149 ) (7,198 ) Finance expense (62,502 ) (33,978 ) Net finance expense recognized in profit or loss (47,376 ) (26,793 ) * The Group has initially applied IFRS 16 at January 1, 2019. Interest income increased due to the interest received on the interest rate swaps which were acquired in the Gener8 Maritime Inc. deal and due to more cash on hand during the period. Interest expense on financial liabilities measured at amortized cost increased in the first six months of 2019 compared to the same period in 2018. This increase was attributable to an increase in the average outstanding debt as a result of the merger with Gener8 Maritime Inc. combined with increased interest rates. Interest leasing is the interest on lease liabilities which were recognized due to the adoption of IFRS 16 on January 1, 2019 (see Note 4). Fair value adjustment on interest rate swaps relate primarily to interest rate swaps which were acquired in the Gener8 Maritime Inc. merger and of which the fair value at acquisition is amortized over the remaining duration of the swap via the fair value adjustment of interest rate swaps (see Note 13).

Property, plant and equipment

Property, plant and equipment	6 Months Ended
	Jun. 30, 2019
Property, plant and equipment [abstract]
Property, plant and equipment	Property, plant and equipment (in thousands of USD) Vessels Right-of-use assets Other tangible assets Total PPE At January 1, 2019 Cost 4,927,324 — 4,274 4,931,598 Depreciation & impairment losses (1,407,257) — (2,331) (1,409,588) Net carrying amount 3,520,067 — 1,943 3,522,010 Acquisitions 3,849 323 571 4,743 Adoption IFRS 16 (Note 4) — 87,598 — 87,598 Disposals and cancellations (6,173) — (51) (6,224) Depreciation charges (153,694) (14,522) (293) (168,509) Transfer to assets held for sale (Note 8) (23,212) — — (23,212) Translation differences — (17) (2) (19) Balance at June 30, 2019 3,340,837 73,382 2,168 3,416,387 At June 30, 2019 Cost 4,888,501 87,902 4,677 4,981,080 Depreciation & impairment losses (1,547,664) (14,520) (2,509) (1,564,693) Net carrying amount 3,340,837 73,382 2,168 3,416,387 In 2019, the Cap Theodora, Cap Pierre and Cap Diamant have been dry-docked. The cost of planned repairs and maintenance is capitalized and included under the heading Acquisitions. The adoption of IFRS 16 as of January 1, 2019 (see Note 4), resulted in the recognition of right-of-use assets of USD 87.6 million on the balance sheet which are included under the heading Adoption IFRS 16 of Right-of-use assets. Disposal of assets – Gains/losses (in thousands of USD) Acquisitions Sale price Book Value Gain Deferred Gain Loss Cap Jean - Sale — 10,175 — 10,175 — — At June 30, 2018 10,175 — 10,175 — — Acquisitions Sale price Book Value Gain Deferred Gain Loss Genmar Compatriot - Sale — 6,615 6,173 442 — — Other — 13 — 13 — (74) At June 30, 2019 6,628 6,173 455 — (74) On October 31, 2018, the Company sold the Suezmax Felicity (2009 - 157,667 dwt), for USD 42.0 million . This vessel was accounted for as a non-current asset held for sale as at December 31, 2018 and had a carrying value of USD 45.0 million . The vessel was delivered to its new owner on January 9, 2019 and the impairment loss of USD 3.0 million was recorded in 2018. On February 20, 2019, Euronav sold the LR1 Genmar Compatriot (2004 – 72,768 dwt) for a net sale price of USD 6.6 million . The Company recorded a capital gain of USD 0.4 million in the second quarter of 2019 upon delivery to its new owner on May 21, 2019. Impairment Tankers Euronav defines its cash generating unit as a single vessel, unless such vessel is operated in a pool, in which case such vessel, together with the other vessels in the pool, are collectively treated as a cash generating unit. The Group has performed an impairment test for tankers whereby the carrying amount of an asset or CGU is compared to its recoverable amount, which is the greater of its value in use and its fair value less cost to sell. In assessing value in use, the following assumptions were used: - Weighted average of past and ongoing shipping cycles, including management judgement for the ongoing cycle and for the weighting factors applied, is used as forecast charter rates - Weighted Average Cost of Capital ('WACC') of 7.58% (2018: 7.70% ) 20 year useful life with residual value equal to zero Although management believes that the assumptions used to evaluate potential impairment are reasonable and appropriate, such assumptions are subject to judgment.The Group uses a business cycle approach to forecast expected TCE rates. By defining a shipping cycle from peak to peak over the last 20 years and including management's expectation of the completion of the current cycle, management is better able to capture the full length of a business cycle while also giving more weight to recent and current market experience. The current cycle is forecasted based on management judgement, analyst reports and past experience. The impairment test did not result in a requirement to record an impairment loss. With an increase of the WACC of 300bps to 10.58% , the analysis would also indicate that the carrying amount of the vessels as of June 30, 2019 is not impaired. This weighting and forecasting of the ongoing cycle is based on management judgement, but none of the full cycles, with or without management forecasting of the ongoing cycle or the sole use of the ongoing cycle would lead to an impairment. When using 10 -year historical charter rates in this impairment analysis, the impairment analysis indicates that an impairment is required for the tanker fleet of USD 47.0 million (2018: USD 47.9 million ). When using 5 -year historical charter rates in this impairment analysis, the impairment analysis indicates that no impairment is required for the tanker fleet (2018: no impairment), and when using 1 -year historical charter rates in this impairment analysis, the impairment analysis indicates that an impairment is required for the tanker fleet of USD 47.3 million (2018: USD 92.7 million ). FSO In the context of the valuation of the Group's investments in the respective joint ventures, the Group also performed an impairment test on the FSO vessels owned by TI Asia Ltd. and TI Africa Ltd. For FSOs the impairment assessment has been based on a value in use calculation to estimate the recoverable amount from the vessel. This method is chosen as there is no efficient market for transactions of FSO vessels as each vessel is often purposely built for specific circumstances. In assessing value in use, the following assumptions were used: – Weighted Average Cost of Capital ('WACC') of 7.58% (2018: 7.70% ) – 25 year useful life with residual value equal to zero This assessment did not result in a requirement to record an impairment loss in 2019. Even with an increase of the WACC of 300bps, there was no need to record an impairment loss in 2019. The value in use calculation for FSOs is based on the remaining useful life of the vessels as of the reporting date, and is based on fixed daily rates as well as management's best estimate of daily rates for future unfixed periods. The FSO Asia and the FSO Africa are on a timecharter contract to North Oil Company, the new operator of the Al-Shaheen oil field, whose shareholders are Qatar Petroleum Oil & gas Limited and Total E&P Golfe Limited, until July 22, 2022 and September 22, 2022, respectively. Security All tankers financed with bank loans are subject to a mortgage to secure bank loans (see Note 15). Vessels on order or under construction The Group has no vessels under construction as at June 30, 2019. Capital commitment As at June 30, 2019 and December 31, 2018 the Group had no significant capital commitments.

Equity

Equity	6 Months Ended
	Jun. 30, 2019
Disclosure Of Share Capital, Reserves And Other Equity Interest [Abstract]
Equity	Equity Translation reserve The translation reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations. Hedging reserve The Group , through two of its JV companies in connection to the USD 220.0 million facility raised in March 2018, entered in several Interest Rate Swap (IRSs) instruments for a combined notional value of USD 208.8 million (Euronav’s share amounts to 50% of the USD 208.8 million ). These IRSs have been used to hedge the risk related to the fluctuation of the Libor rate and qualify as hedging instruments in a cash flow hedge relationship under IFRS 9. These instruments have been measured at their fair value; effective changes in fair value have been recognized in OCI and the ineffective portion has been recognized in profit or loss. These IRSs have a remaining duration of four years matching the repayment profile of that facility and mature on July 21, 2022 and September 22, 2022 for FSO Asia and FSO Africa respectively. The fair value of these instruments at June 30, 2019 amounted to USD (3.0) million ( 100% ), of which USD (2.0) million was reflected in OCI at the level of the JV companies in the first six months of 2019 (Note 23). The Group, through the acquisition of Gener8 Maritime Inc. on June 12, 2018, acquired several IRSs for a combined notional value of USD 668.0 million . These IRSs have been used to hedge the risk related to the fluctuation of the Libor rate and qualify as hedging instruments in a cash flow hedge relationship under IFRS 9. These instruments have been measured at their fair value; effective changes in fair value have been recognized in OCI and the ineffective portion has been recognized in profit or loss. These IRSs have a remaining duration between one and two years matching the repayment profile of the underlying facility and mature in September, 2020. The fair value of these instruments at June 30, 2019 amounted to USD 0.3 million and USD (3.8) million has been recognized in OCI in the first six months of 2019. The Group, through the long term charter parties with Valero for two Suezmaxes (Cap Quebec and Cap Pembroke), entered on March 28, 2018 and April 20, 2018, in two IRSs for a combined notional value of USD 86.8 million . These IRSs are used to hedge the risk related to the fluctuation of the Libor rate and qualify as hedging instruments in a cash flow hedge relationship under IFRS 9. These instruments have been measured at their fair value; effective changes in fair value have been recognized in OCI and the ineffective portion has been recognized in profit or loss. These IRSs have the same duration as the long term charter parties matching the repayment profile of the underlying USD 173.6 million facility and mature on March 28, 2025. The fair value of these instruments at June 30, 2019 amounted to USD (3.5) million (see Note 16) and USD (2.5) million has been recognized in OCI in the first six months of 2019. The Group entered on December 7, 2018 into two forward cap contracts (CAPs) with a strike at 3.25% starting on October 1, 2020, to hedge against future increase of interest rates with a notional value of USD 200.0 million and qualify as hedging instruments in a cash flow hedge relationship under IFRS 9. These instruments have been measured at their fair value; effective changes in fair value have been recognized in OCI and the ineffective portion has been recognized in profit or loss. These CAPs have a maturity date at October 3, 2022. The fair value of these instruments at June 30, 2019 amounted to USD 0.2 million (see Note 19) and USD (0.6) million has been recognized in OCI in the first six months of 2019. During the first half of 2019, the Group entered into several commodity swaps or futures for a combined notional value of USD 60.6 million in connection with its low sulfur fuel oil project. These swaps are used to hedge a potential increase in the index underlying the price of low sulfur fuel between the purchase date and the delivery date of the product, i.e. when title to the low sulphur fuel is actually transferred. These instruments qualify as hedging instruments in a cash flow hedge relationship under IFRS 9. These instruments have been measured at their fair value; effective changes in fair value have been recognized in OCI and the ineffective portion has been recognized in profit or loss. These swaps mature at the time of the expected delivery of the fuel. The fair value of these instruments at June 30, 2019 amounted to USD 1.8 million (see Note 17) and USD 1.8 million has been recognized in OCI. Treasury shares As of June 30, 2019 Euronav owned 4,525,568 of its own shares, compared to 1,237,901 of shares owned on December 31, 2018. In the six months period ended June 30, 2019 Euronav bought back 3,287,667 shares at an aggregate cost of USD 27.0 million . Dividends On May 9, 2019, the Annual Shareholders' meeting approved a full year dividend of USD 0.12 per share. Taking into account the interim dividend approved in August 2018 in the amount of USD 0.06 per share, the dividend paid after the AGM was USD 0.06 per share. The dividend to holders of Euronav shares trading on Euronext Brussels was paid in EUR at the USD/EUR exchange rate of the record date. The total amount of dividends paid in the first six months of 2019 was USD 13.0 million. Long term incentive plan 2015 The Group's Board of Directors implemented in 2015 a long term incentive plan ('LTIP') for key management personnel. Under the terms of this LTIP, the beneficiaries will obtain 40% of their respective LTIP in the form of Euronav stock options, with vesting over three years and 60% in the form of restricted stock units ('RSU's'), with cliff vesting on the third anniversary. In total 236,590 options and 65,433 RSU's were granted on February 12, 2015. Vested stock options may be exercised until 13 years after the grant date. The stock options have an exercise price of EUR 10.0475 and are equity-settled. T his has been converted into a cash-settled incentive plan in the course of 2018. All the RSU's were exercised in the first quarter of 2018. As of June 30, 2019 , all the stock options remained outstanding. The fair value of the stock options was measured using the Black Scholes formula. The total employee benefit expense recognized in the consolidated statement of profit or loss in the six month period ended June 30, 2019 with respect to the LTIP 2015 was USD 0 thousand. Long term incentive plan 2016 The Group's Board of Directors implemented in 2016 an additional long term incentive plan for key management personnel. Under the terms of this LTIP, key management personnel are eligible to receive phantom stock unit grants. Each phantom stock unit grants the holder a conditional right to receive an amount of cash equal to the fair market value of one share of the company on the settlement date. The phantom stock units will mature one-third each year on the second, third and fourth anniversary of the award. In total a number of 54,616 phantom stock units were granted on February 2, 2016 and one-third was vested on the second anniversary and one-third on the third anniversary. Following the resignation of our former CEO Paddy Rodgers, his phantoms stocks were waived. As of June 30, 2019 , 12,500 phantom stocks were outstanding. The LTIP 2016 qualifies as a cash-settled share-based payment transaction. The Company recognizes a liability in respect of its obligations under the LTIP 2016, measured based on the Company’s share price at the reporting date, and taking into account the extent to which the services have been rendered to date. The compensation expense recognized in the consolidated statement of profit or loss in the six month period ended June 30, 2019 was USD (0.2) million. Long term incentive plan 2017 The Group's Board of Directors implemented in 2017 an additional long term incentive plan for key management personnel. Under the terms of this LTIP, key management personnel are eligible to receive phantom stock unit grants. Each phantom stock unit grants the holder a conditional right to receive an amount of cash equal to the fair market value of one share of the company on the settlement date. The phantom stock units will mature one-third each year on the second, third and fourth anniversary of the award. In total a number of 66,449 phantom stock units were granted on February 9, 2017 and one-third was vested on the second anniversary. Following the resignation of our former CEO Paddy Rodgers, his phantoms stocks were waived. As of June 30, 2019 , 32,420 phantom stocks were outstanding The LTIP 2017 qualifies as a cash-settled share-based payment transaction. The Company recognizes a liability in respect of its obligations under the LTIP 2017, measured based on the Company’s share price at the reporting date, and taking into account the extent to which the services have been rendered to date. The compensation expense recognized in the consolidated statement of profit or loss in the six month period ended June 30, 2019 was USD (0.2) million. Long term incentive plan 2018 The Group's Board of Directors implemented in 2018 an additional long term incentive plan for key management personnel. Under the terms of this LTIP, key management personnel are eligible to receive phantom stock unit grants. Each phantom stock unit grants the holder a conditional right to receive an amount of cash equal to the fair market value of one share of the company on the settlement date. The phantom stock units will mature one-third each year on the second, third and fourth anniversary of the award. In total a number of 154,432 phantom stock units were granted on February 16, 2018. Following the resignation of our former CEO Paddy Rodgers, his phantoms stocks were waived. As of June 30, 2019 , 107,780 phantom stocks were outstanding. The LTIP 2018 qualifies as a cash-settled share-based payment transaction. The Company recognizes a liability in respect of its obligations under the LTIP 2018, measured based on the Company’s share price at the reporting date, and taking into account the extent to which the services have been rendered to date. The compensation expense recognized in the consolidated statement of profit or loss in the six month period ended June 30, 2019 was USD 0.2 million. Transaction Based Incentive Plan 2019 The Group's Board of Directors has implemented in 2019 a transaction based incentive plan for key management personnel. Under the terms of this TBIP, key management personnel is eligible to receive phantom stock unit grants. Each phantom stock unit grants the holder a conditional right to receive an amount of cash equal to the fair market value of one share of the company multiplied by the number of phantom stock units that have vested prior to the settlement date. The vesting and settlement of the TBIP is spread over a timeframe of five years. The phantom stock awarded matures in four tranches: the first tranche of 12% vesting when Euronav's share price reaches USD 12 , the second tranche of 19% vesting when the share price reaches USD 14 , the third tranche of 25% vesting when the share price reaches USD 16 and the fourth tranche of 44% vesting when the share price reaches USD 18 . In total a number of 1,200,000 phantom stock units were granted on January 31, 2019. Following the resignation of our former CEO Paddy Rodgers, his phantoms stocks were waived. As of June 30, 2019 , 800,000 phantom stocks were outstanding. The TBIP 2019 qualifies as a cash-settled share-based payment transaction as the Company receives services from the participants and incur an obligation to settle the transaction in cash. The Company recognizes a liability at fair value in respect of its obligations under the TBIP 2019. The fair value of the plan is being determined using a binominal model with cost being spread of the expected vesting period over the various tranches. The compensation expense recognized in the consolidated statement of profit or loss in the six month period ended June 30, 2019 was USD 0.6 million .

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2019
Earnings per share [abstract]
Earnings per share	Earnings per share Basic earnings per share The calculation of basic earnings per share at June 30, 2019 was based on a result attributable to ordinary shares of USD (19,030,395) ( June 30, 2018 : USD (51,602,299) ) and a weighted average number of ordinary shares outstanding during the six month period ended June 30, 2019 of 216,994,426 ( June 30, 2018 : 164,550,509 ), calculated as follows: Result attributable to ordinary shares For the six month period ended (in thousands of USD except share and per share information) June 30, 2019 June 30, 2018 Result for the period (19,030) (51,602) Weighted average 216,994,426 164,550,509 Basic earnings per share (in USD) (0.09) (0.31) Weighted average number of ordinary shares (in shares) Shares issued Treasury shares Shares outstanding Weighted number of shares On issue at January 1, 2019 220,024,713 1,237,901 218,786,812 218,786,812 Issuance of shares — — — — Purchases of treasury shares — 3,287,667 (3,287,667) (1,792,386) Withdrawal of treasury shares — — — — Sales of treasury shares — — — — On issue at June 30, 2019 220,024,713 4,525,568 215,499,145 216,994,426 Diluted earnings per share For the six months ended June 30, 2019 , the diluted earnings per share (in USD) amount to (0.09) (2018: (0.31) ). At June 30, 2019 , 236,590 outstanding options granted under the LTIP 2015 were excluded from the diluted weighted average number of ordinary shares calculation because their effect would have been anti-dilutive ( June 30, 2018 : 236,590 options). Weighted average number of ordinary shares (diluted) The table below shows the potential weighted number of shares that could be created if all stock options and restricted stock units were to be converted into ordinary shares. (in shares) June 30, 2019 June 30, 2018 Weighted average of ordinary shares outstanding (basic) 216,994,426 164,550,509 Effect of share-based payment arrangements — 84,164 Weighted average number of ordinary shares (diluted) 216,994,426 164,634,673 There are no more remaining outstanding instruments at June 30, 2019 which can give rise to dilution, except for the Euronav stock options of the LTIP 2015.

Interest-bearing loans and borr

Interest-bearing loans and borrowings	6 Months Ended
	Jun. 30, 2019
Financial Instruments [Abstract]
Interest-bearing loans and borrowings	Interest-bearing loans and borrowings Bank loans Convertible and other Notes Lease liabilities Total More than 5 years 433,662 — — 433,662 Between 1 and 5 years 987,803 148,166 — 1,135,969 More than 1 year 1,421,465 148,166 — 1,569,631 Less than 1 year 138,537 — — 138,537 At January 1, 2019 1,560,002 148,166 — 1,708,168 New loans 220,000 50,000 323 270,323 Adoption IFRS 16 (Note 4) — — 105,238 105,238 Scheduled repayments (53,516) — (17,043) (70,559) Early repayments (367,350) — — (367,350) Other changes 1,810 98 — 1,908 Translation differences — — (73) (73) Balance at June 30, 2019 1,360,946 198,264 88,445 1,647,655 More than 5 years 383,083 — 2,727 385,810 Between 1 and 5 years 866,421 198,264 56,820 1,121,505 More than 1 year 1,249,504 198,264 59,547 1,507,315 Less than 1 year 111,442 — 28,898 140,340 Balance at June 30, 2019 1,360,946 198,264 88,445 1,647,655 The lease liabilities relate to the adoption of IFRS 16 as of January 1, 2019 (see Note 4). Early repayments relate to the use of the revolving credit facilities. Bank loans Terms and debt repayment schedule The terms and conditions of outstanding loans were as follows: (in thousands of USD) June 30, 2019 December 31, 2018 Curr. Nominal interest rate Year of mat. Facility size Drawn Carrying value Facility size Drawn Carrying value Secured vessels loan 192M USD libor +2.25% 2021 57,930 57,930 57,134 79,762 79,762 78,746 Secured vessels Revolving loan 148M* USD libor +2.25% 2021 133,962 20,000 20,000 147,559 105,000 105,000 Secured vessels Revolving loan 750M* USD libor +1.95% 2022 358,814 190,000 187,633 395,289 165,000 162,002 Secured vessels Revolving loan 409.5M* USD libor +2.25% 2023 292,700 85,000 82,946 316,060 150,000 147,541 Secured vessels loan 27.1M USD libor +1.95% 2029 26,233 26,233 24,620 26,459 26,459 24,711 Secured vessels loan 81.4M USD libor +1.50% 2029 67,844 67,844 67,171 71,236 71,236 70,507 Secured vessels loan 69.4M USD libor + 2.0% 2030 65,949 65,949 65,949 68,263 68,263 68,263 Secured vessels loan 104.2M USD libor + 2.0% 2030 97,622 97,622 96,264 101,961 101,961 100,490 Secured vessels loan 89.7M USD libor +1.50% 2029 80,877 80,877 80,877 85,295 85,295 85,295 Secured vessels loan 221.4M USD libor +1.70% 2029 199,558 199,558 199,558 210,459 210,459 210,459 Secured vessels loan 126.8M USD libor +2.60% 2029 114,308 114,308 114,308 120,553 120,553 120,553 Secured vessels loan 195.7M USD libor + 2.75% 2022 181,281 181,281 181,281 188,481 188,481 188,481 Secured vessels Revolving loan 200.0M* USD libor + 2.0% 2025 187,172 145,000 143,205 200,000 200,000 197,955 Secured vessels Revolving loan 100.0M* USD libor + 2.1% 2021 100,000 — — — — — Unsecured bank facility 60M USD libor +2.25% 2020 60,000 40,000 40,000 60,000 — — Total interest-bearing bank loans 2,024,250 1,371,602 1,360,946 2,071,375 1,572,467 1,560,002 * The total amount available under the Revolving Credit Facility depends on the total value of the fleet of tankers securing the facility. The facility size of the vessel loans can be reduced if the value of the collateralized vessels falls under a certain percentage of the outstanding amount under that loan. On June 27, 2019, the Group entered into a USD 100.0 million senior secured amortizing revolving credit facility with a syndicate of banks and ABN Amro Bank also acting as Coordinator, Agent and Security Trustee. The facility, secured by the Oceania and the bunker inventory bought in anticipation of the new legislation starting in January 1, 2020, will mature on December 31, 2021 and carries a rate of LIBOR plus a margin of 2.10% . Other notes (in thousands of USD) June 30, 2019 December 31, 2018 Curr. Nominal interest rate Year of mat. Facility size Drawn Carrying value Facility size Drawn Carrying value Unsecured notes USD 7.50% 2022 200,000 200,000 198,264 150,000 150,000 148,166 Total other notes 200,000 200,000 198,264 150,000 150,000 148,166 On June 14, 2019, the Group successfully completed a tap issue of USD 50 million under its existing senior unsecured bonds. The bonds have the same maturity date and carry the same coupon of 7.50% . The tap issue was priced at 101% of par value. Arctic Securities AS, DNB Markets and Nordea acted as joint lead managers in connection with the placement of the tap issue. The related transaction costs of USD 175,000 are amortized over the lifetime of the instrument using the effective interest rate method. Other borrowings On June 6, 2017, the Group signed an agreement with BNP to act as dealer for a Treasury Notes Program with a maximum outstanding amount of 50 million Euro. On October 1, 2018, KBC was appointed as an additional dealer in the agreement and the maximum amount was increased from 50 million Euro to 150 million Euro. As of June 30, 2019 , the outstanding amount was USD 159.0 million or the sum of the tranche of 127.5 million Euro and the tranche of USD 14.0 million (December 31, 2018: USD 60.3 million or 52.7 million Euro). The Treasury Notes are issued on an as needed basis with different durations and initial pricing is set to 60 bps over Euribor. The company enters into FX forward contracts to manage the transaction risks related to these instruments issued in Euro compared to the USD Group currency. The FX contracts have a same nominal amount and duration as the issued Treasury Notes and they are measured at fair value with changes in fair value recognized in the consolidated statement of profit or loss. On June 30, 2019 , the fair value of these forward contracts amounted to USD 1.8 million .

Trade and other payables

Trade and other payables	6 Months Ended
	Jun. 30, 2019
Subclassifications of assets, liabilities and equities [abstract]
Trade and other payables	Trade and other payables (in thousands of USD) June 30, 2019 December 31, 2018 Advances received on contracts in progress, between 1 and 5 years 399 402 Derivatives 3,546 1,049 Total non-current other payables 3,945 1,451 Trade payables 30,586 16,266 Accrued expenses 37,085 42,524 Accrued payroll 2,314 5,595 Dividends payable 129 146 Accrued interest 10,588 10,833 Deferred income 14,886 7,754 Other payables 7,611 4,107 Total current trade and other payables 103,199 87,225 The derivatives relate to the interest rate swap derivatives in connection to the USD 173.6 million facility related to the two Suezmaxes Cap Quebec and Cap Pembroke. The increase relates to the increase in the fair value of these instruments (see Note 13). The increase in trade payables is due to a higher number of outstanding invoices related to insurances and bunkers. The increase in deferred income is due to a higher number of vessels on time charter as of June 30, 2019 compared to December 31, 2018.

Financial instruments

Financial instruments	6 Months Ended
	Jun. 30, 2019
Disclosure of detailed information about financial instruments [abstract]
Financial instruments	Financial instruments Carrying amounts and fair values The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value, such as trade and other receivables and payables. Carrying amount Fair value (in thousands of USD) Fair value -Hedging instruments Financial assets at amortized cost Other financial liabilities Total Level 1 Level 2 Level 3 Total December 31, 2018 Financial assets measured at fair value Forward exchange contracts 484 — — 484 — 484 — 484 Interest rate swaps (Note 19) 7,205 — — 7,205 — 7,205 — 7,205 Forward cap contracts (Note 19) 725 — — 725 — 725 — 725 8,414 — — 8,414 Financial assets not measured at fair value Non-current receivables (Note 19) — 30,728 — 30,728 — — 26,047 26,047 Trade and other receivables (Note 21) * — 263,186 — 263,186 — — — — Cash and cash equivalents — 173,133 — 173,133 — — — — — 467,047 — 467,047 Financial liabilities measured at fair value Interest rate swaps (Note 16) 1,049 — — 1,049 — 1,049 — 1,049 1,049 — — 1,049 Financial liabilities not measured at fair value Secured bank loans (Note 15) — — 1,560,002 1,560,002 — 1,575,196 — 1,575,196 Unsecured other notes (Note 15) — — 148,166 148,166 144,156 — — 144,156 Unsecured other borrowings (Note 15) — — 60,342 60,342 — — — — Trade and other payables (Note 16) * — — 79,442 79,442 — — — — Advances received on contracts (Note 16) — — 402 402 — — — — — — 1,848,354 1,848,354 Carrying amount Fair value (in thousands of USD) Fair value -Hedging instruments Financial assets at amortized cost Other financial liabilities Total Level 1 Level 2 Level 3 Total June 30, 2019 Financial assets measured at fair value Forward exchange contracts (Note 15) 1,810 — — 1,810 — 1,810 — 1,810 Interest rate swaps (Note 19) 382 — — 382 — 382 — 382 Forward cap contracts (Note 19) 157 — — 157 — 157 — 157 Commodity derivatives (Note 21) 1,781 — — 1,781 — 1,781 — 1,781 4,130 — — 4,130 Financial assets not measured at fair value Non-current receivables (Note 19) — 37,736 — 37,736 — — 33,455 33,455 Trade and other receivables (Note 21) * — 224,664 — 224,664 — — — — Cash and cash equivalents — 203,636 — 203,636 — — — — — 466,036 — 466,036 Financial liabilities measured at fair value Interest rate swaps (Note 16) 3,546 — — 3,546 — 3,546 — 3,546 3,546 — — 3,546 Financial liabilities not measured at fair value Secured bank loans (Note 15) — — 1,360,946 1,360,946 — 1,366,899 — 1,366,899 Unsecured other notes (Note 15) — — 198,264 198,264 202,680 — — 202,680 Unsecured other borrowings (Note 15) — — 159,038 159,038 — — — — Lease liabilities (Note 15) — — 88,445 88,445 — 86,420 — 86,420 Trade and other payables (Note 16) * — — 88,062 88,062 — — — — Advances received on contracts (Note 16) — — 399 399 — — — — — — 1,895,154 1,895,154 * Deferred charges, deferred fulfillment costs and VAT receivables (included in other receivables) (see Note 20), deferred income and VAT payables (included in other payables) (see Note 16), which are not financial assets (liabilities) are not included. Measurement of fair values Valuation techniques and significant unobservable inputs Level 1 fair value was determined based on the actual trading of the unsecured notes, due in 2022, and the trading price on June 28, 2019. The following tables show the valuation techniques used in measuring Level 1, Level 2 and Level 3 fair values, as well as the significant unobservable inputs used. Financial instruments measured at fair value Type Valuation Techniques Significant unobservable inputs Forward exchange contracts Forward pricing: the fair value is determined using quoted forward exchange rates at the reporting date and present value calculations based on high credit quality yield curve in the respective currencies. Not applicable Interest rate swaps and commodity contracts Swap models: the fair value is calculated as the present value of the estimated future cash flows. Estimates of future floating-rate cash flows are based on quoted swap rates, futures prices and interbank borrowing rates. Not applicable Forward cap contracts Fair values for both the derivative and the hypothetical derivative will be determined based on a software used to calculate the net present value of the expected cash flows using LIBOR rate curves, futures and basis spreads. Not applicable Financial instruments not measured at fair value Type Valuation Techniques Significant unobservable inputs Non-current receivables (consisting primarily of shareholders' loans) Discounted cash flow Discount rate and forecasted cash flows Other financial liabilities (consisting of secured and unsecured bank loans and lease liabilities) Discounted cash flow Discount rate Other financial notes (consisting of unsecured notes) Not applicable Not applicable Transfers between Level 1, 2 and 3 There were no transfers between these levels in 2018 and for the six-month period ended June 30, 2019 . Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group’s reputation. The sources of financing are diversified and the bulk of the loans are irrevocable, long-term and maturities are spread over different years. The following are the remaining contractual maturities of financial liabilities: Contractual cash flows December 31, 2018 (in thousands of USD) Carrying Amount Total Less than 1 year Between 1 and 5 years More than 5 years Non derivative financial liabilities Bank loans and other notes (Note 15) 1,708,168 2,034,794 364,122 1,176,317 494,355 Other borrowings (Note 15) 60,342 60,342 60,342 — — Lease liabilities (Note 15) — — — — — Current trade and other payables (Note 16) * 79,442 79,442 79,442 — — 1,847,952 2,174,578 503,906 1,176,317 494,355 Derivative financial liabilities Interest rate swaps — 2,627 461 1,628 538 Forward exchange contracts — — — — — — 2,627 461 1,628 538 Contractual cash flows June 30, 2019 Carrying Amount Total Less than 1 year Between 1 and 5 years More than 5 years Non derivative financial liabilities Bank loans and other notes (Note 15) 1,559,210 1,856,565 220,461 1,201,425 434,679 Other borrowings (Note 15) 159,038 159,038 159,038 — — Lease liabilities (Note 15) 88,445 97,008 63,712 30,488 2,808 Current trade and other payables (Note 16) * 88,062 88,062 88,062 — — 1,894,755 2,200,672 531,272 1,231,913 437,487 Derivative financial liabilities Interest rate swaps — 2,155 412 1,553 191 Forward exchange contracts — — — — — — 2,155 412 1,553 191 * Deferred income and VAT payables (included in other payables) (see Note 16), which are not financial liabilities, are not included. The Group has secured bank loans that contain loan covenants. A breach of covenant may require the Group to repay the loan earlier than indicated in the above table. For more details on these covenants, please see "capital management" below. The interest payments on variable interest rate loans in the table above reflect market forward interest rates at the reporting date and these amounts may change as market interest rates change. It is not expected that the cash flows included in the table above (the maturity analysis) could occur significantly earlier, or at significantly different amounts than stated above.

Deferred tax assets and liabili

Deferred tax assets and liabilities	6 Months Ended
	Jun. 30, 2019
Income Taxes [Abstract]
Deferred tax assets and liabilities	Deferred tax assets and liabilities Euronav NV and its subsidiaries had available combined cumulative tax losses and other tax credits carried forward of USD 356.0 million and USD 357.2 million as of June 30, 2019 and December 31, 2018 , respectively. Under current local tax laws, these loss carry forwards have an indefinite life and may be used to offset future taxable income of Euronav NV and its subsidiaries. The Company did not recognize deferred tax assets of USD 84.5 million and USD 86.9 million as of June 30, 2019 and December 31, 2018 , respectively, that can be carried forward against future taxable income, because it is not considered more likely than not that these deferred tax assets will be utilized in the foreseeable future.

Non-current receivables

Non-current receivables	6 Months Ended
	Jun. 30, 2019
Subclassifications of assets, liabilities and equities [abstract]
Non-current receivables	Non-current receivables (in thousands of USD) June 30, 2019 December 31, 2018 Shareholders loans to joint ventures 26,215 28,665 Derivatives 539 7,930 Other non-current receivables 2,068 2,062 Lease receivables 9,452 — Investment 1 1 Total non-current receivables 38,275 38,658 The shareholders loans to joint ventures as of June 30, 2019 and December 31, 2018 did not bear interest. Please refer to Note 23 for more information on the shareholders loans to joint ventures. The derivatives relate to the fair market value of the Interest Rate Swap instruments, acquired through the acquisition of Gener8 Maritime Inc and two forward cap contracts which were entered into 2018 (see Note 13). The lease receivables relate to the subleases of office space to third parties regarding the leased offices of Euronav UK and Euronav MI II Inc. (formerly Gener8 Maritime Inc.). Trade and other receivables (in thousands of USD) June 30, 2019 December 31, 2018 Receivable from contracts with customers 63,674 64,923 Accrued income 15,590 17,765 Accrued interest 1,376 750 Deferred charges 18,487 39,734 Deferred fulfillment costs — 2,140 Receivable from contracts with customers - TI Pool 122,429 161,737 Other receivables 16,714 18,677 Lease receivables 1,511 — Derivatives 3,591 — Total trade and other receivables 243,372 305,726 As from January 1, 2019 own bunkers are presented as bunker inventory The decrease in receivables from contracts with customers - Ti Pool relates to income to be received by the Group from the Tankers International Pool. These amounts decreased in 2019 due to overall declining freight market conditions. The lease receivables relate to the subleases of office space to third parties regarding the leased offices of Euronav UK and Euronav MI II Inc. (formerly Gener8 Maritime Inc.). The derivatives relate to FX forwards and commodity derivatives used to protect the Group against changes in rate of exchange and rising prices when acquiring compliant fuel ahead of the new IMO 2020 rules (see Note 13).

Bunker inventory

Bunker inventory	6 Months Ended
	Jun. 30, 2019
Disclosure of inventories [Abstract]
Bunker inventory	Bunker inventory The Group has set up a Bunker Fuel Management Group to manage the fuel oil exposure in the future relating to the IMO 2020 requirements. IMO 2020 requires the vessels to operate with low Sulphur fuel (LSFO) which is expected to be higher priced due to anticipated or potential shortage in the production of LSFO in the first months of 2020 compared to demand. The activity involves the purchase and storage of compliant fuel oil inventory on board of a Euronav vessel so that there would be a safety inventory available for the use on our own fleet going into the 2020 transition period. The bunker inventory is accounted for at the lower of cost and net realizable value with cost being determined on a weighted average basis. The cost includes: the purchase price, fuel inspection costs, the transport and handling costs for loading the bunker on our vessel and the effective portion of the change in fair value of derivatives designated as cashflow hedge of the underlying index between commitment and pricing. As of June 30, 2019 the carrying amount of the bunker inventory amounted to USD 146.2 million .

Trade and other receivables

Trade and other receivables	6 Months Ended
	Jun. 30, 2019
Subclassifications of assets, liabilities and equities [abstract]
Trade and other receivables	Non-current receivables (in thousands of USD) June 30, 2019 December 31, 2018 Shareholders loans to joint ventures 26,215 28,665 Derivatives 539 7,930 Other non-current receivables 2,068 2,062 Lease receivables 9,452 — Investment 1 1 Total non-current receivables 38,275 38,658 The shareholders loans to joint ventures as of June 30, 2019 and December 31, 2018 did not bear interest. Please refer to Note 23 for more information on the shareholders loans to joint ventures. The derivatives relate to the fair market value of the Interest Rate Swap instruments, acquired through the acquisition of Gener8 Maritime Inc and two forward cap contracts which were entered into 2018 (see Note 13). The lease receivables relate to the subleases of office space to third parties regarding the leased offices of Euronav UK and Euronav MI II Inc. (formerly Gener8 Maritime Inc.). Trade and other receivables (in thousands of USD) June 30, 2019 December 31, 2018 Receivable from contracts with customers 63,674 64,923 Accrued income 15,590 17,765 Accrued interest 1,376 750 Deferred charges 18,487 39,734 Deferred fulfillment costs — 2,140 Receivable from contracts with customers - TI Pool 122,429 161,737 Other receivables 16,714 18,677 Lease receivables 1,511 — Derivatives 3,591 — Total trade and other receivables 243,372 305,726 As from January 1, 2019 own bunkers are presented as bunker inventory The decrease in receivables from contracts with customers - Ti Pool relates to income to be received by the Group from the Tankers International Pool. These amounts decreased in 2019 due to overall declining freight market conditions. The lease receivables relate to the subleases of office space to third parties regarding the leased offices of Euronav UK and Euronav MI II Inc. (formerly Gener8 Maritime Inc.). The derivatives relate to FX forwards and commodity derivatives used to protect the Group against changes in rate of exchange and rising prices when acquiring compliant fuel ahead of the new IMO 2020 rules (see Note 13).

Provisions and contingencies

Provisions and contingencies	6 Months Ended
	Jun. 30, 2019
Disclosure of other provisions, contingent liabilities and contingent assets [Abstract]
Provisions and contingencies	Provisions and contingencies (in thousands of USD) Onerous contract Total At January 1, 2019 5,265 5,265 Adoption IFRS 16 (3,049 ) (3,049 ) Provisions used during the year (325 ) (325 ) Balance at June 30, 2019 1,891 1,891 Non-current 1,591 1,591 Current 300 300 Total 1,891 1,891 In 2004, Gener8 Maritime Subsidiary II Inc. entered into a non-cancellable lease for office space. This lease started on December 1, 2004 and would have expired on September 30, 2020. On July 14, 2015 this lease was extended for an additional 5 years until September 30, 2025. The facilities have been sub-let starting at December 1, 2018 for the remaining lease term, but changes in market conditions have meant that the rental income is lower than the rental expense. The obligation for the future payments, net of expected rental income, has been provided for. USD 3.0 million of the provision was reclassified to right-of-use assets as part of the adoption of IFRS 16 on January 1, 2019. Furthermore, the Group is involved in a number of disputes in connection with its day-to-day activities, both as claimant and defendant. Such disputes and the associated expenses of legal representation are covered by insurance. Moreover, they are not of a magnitude that lies outside the ordinary, and their scope is not of such a nature that they could jeopardise the Group's financial position.

Equity-accounted investees

Equity-accounted investees	6 Months Ended
	Jun. 30, 2019
Interests in Other Entities [Abstract]
Equity-accounted investees	Equity-accounted investees (in thousands of USD) June 30, 2019 December 31, 2018 Assets Interest in joint ventures 40,457 43,182 Interest in associates — — TOTAL ASSETS 40,457 43,182 Joint Ventures The following table contains a roll forward of the balance sheet amounts with respect to the Group’s joint ventures: ASSET LIABILITY (in thousands of USD) Investments in equity accounted investees Shareholders loans Investments in equity accounted investees Shareholders loans Gross balance 27,565 162,763 — — Offset investment with shareholders loan 3,030 (3,030) — — Balance at January 1, 2018 30,595 159,733 — — Group's share of profit (loss) for the period 16,076 — — — Group's share of other comprehensive income (459) — — — Movement shareholders loans to joint ventures — (134,097) — — Gross balance 43,182 28,666 — — Offset investment with shareholders loan — — — — Balance at December 31, 2018 43,182 28,666 — — Group's share of profit (loss) for the period 7,660 — — — Group's share of other comprehensive income (1,034) — — — Dividends received from joint ventures (9,350) — — — Movement shareholders loans to joint ventures — (2,450) — — Gross balance 40,457 26,216 — — Offset investment with shareholders loan — — — — Balance at June 30, 2019 40,457 26,216 — — The decrease in the balance of shareholders’ loans to joint ventures in 2018 is primarily due to the USD 220.0 million senior secured credit facility which TI Asia Ltd. and TI Africa Ltd. entered into March 29, 2018. The shareholders loans were partially repaid by using a part of this new borrowing. In this context, the Company provided a guarantee for the revolving tranche of the above credit facility.

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2019
Subsequent Events Disclosure [Abstract]
Subsequent events	Subsequent events On July 12, 2019, the Company sold the VLCC V.K. Eddie (2005 - 305,261 dwt), for USD 38.0 million . This vessel was accounted for as a non-current asset held for sale as at June 30, 2019 , and had a carrying value of USD 23.2 million at that time. The vessel was delivered to its new owner on August 5, 2019. Taking into account USD 0.4 million of costs to sell (sales commissions), the gain on the sale of this vessel is USD 14.4 million . This gain will be recorded upon delivery of the vessel and will therefore be recorded in the third quarter of 2019 (see Note 8). On August 28, 2019, the Group entered into a USD 700.0 million senior secured amortizing revolving credit facility with a syndicate of banks. The facility is available for the purpose of (i) refinancing 13 vessels which are currently financed under the USD 633.0 million senior secured loan facility, as well as (ii) Euronav’s general corporate and working capital purposes. The credit facility will mature on January 31, 2026 and carries a rate of Libor plus a margin of 195bps.

Standards Issued but not yet ef

Standards Issued but not yet effective	6 Months Ended
	Jun. 30, 2019
Disclosure Of Changes In Accounting Policies, Accounting Estimates And Errors [Abstract]
Standards issued but not yet effective	Standards issued but not yet effective A number of new standards, amendments to standards and interpretations are not yet effective for the year ended 31 December 2019, and have not been applied in preparing these condensed consolidated financial statements. Amendment to IFRS 3 Business Combinations , issued on 22 October 2018, provides more guidance on the definition of a business. The amendment includes an election to use a concentration test. This is a simplified assessment that will result in an asset acquisition if substantially all of the fair value of the gross assets is concentrated in a single identifiable asset or a group of similar identifiable assets. If one does not apply the concentration test, or the test is failed, then the assessment focuses on the existence of substantive process. The amendment applies to businesses acquired in annual periods beginning on or after 1 January 2020 with earlier application permitted. Amendments to IAS 1 and IAS 8: Definition of Material was issued on 31 October 2018 clarifying the definition of ‘Material’ and aligning the definition of ‘material’ across the standards. The new definition states that “information is considered material, if omitting, misstating or obscuring it could reasonably be expected to influence decisions that primarily users of general purpose financial statements make on the basis of those financial statements, which provide information about a specific reporting entity”. The amendments clarify that materiality will depend on the nature or magnitude of information. The amendments are effective prospectively for annual periods beginning on or after 1 January 2020 with earlier application permitted. On 29 March 2018, the IASB has issued Amendments to References to the Conceptual Framework in IFRS Standards (Amendments to CF) . The Conceptual Framework sets out the fundamental concepts of financial reporting that guides the Board in developing IFRS Standards. It helps to ensure that the Standards are conceptually consistent and that similar transactions are treated the same way, providing useful information for investors and others. The Conceptual Framework also assists companies in developing accounting policies when no IFRS Standard applies to a particular transaction; and it helps stakeholders to understand the Standards better. Key changes include: • Increasing the prominence of stewardship in the objective of financial reporting, which is to provide information that is useful in making resource allocation decisions. • Reinstating prudence, defined as the exercise of caution when making judgements under conditions of uncertainty, as a component of neutrality. • Defining a reporting entity, which might be a legal entity or a portion of a legal entity. • Revising the definition of an asset as a present economic resource controlled by the entity as a result of past events. • Revising the definition of a liability as a present obligation of the entity to transfer an economic resource as a result of past events. • Removing the probability threshold for recognition, and adding guidance on derecognition. • Adding guidance on the information provided by different measurement bases, and explaining factors to consider when selecting a measurement basis. • Stating that profit or loss is the primary performance indicator and that, in principle, income and expenses in other comprehensive income should be recycled where the relevance or faithful representation of the financial statements would be enhanced. The amendments are effective for annual periods beginning on or after 1 January 2020, whereas the Board will start using the revised Conceptual Framework immediately.

Use of judgments and estimates

Use of judgments and estimates (Policies)	6 Months Ended
	Jun. 30, 2019
Disclosure Of Changes In Accounting Policies, Accounting Estimates And Errors [Abstract]
Measurement of fair values	Measurement of fair values A number of the Group's accounting policies and disclosures require the measurement of fair values, for both financial and non-financial assets and liabilities. The Group has an established control framework with respect to the measurement of fair values. This includes a valuation team that has overall responsibility for overseeing all significant fair value measurements, including Level 3 fair values, and reports directly to the CFO. The valuation team regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the valuation team assesses the evidence obtained from the third parties to support the conclusion that such valuations meet the requirements of IFRS, including the level in the fair value hierarchy in which such valuations should be classified. Significant valuation issues are reported to the Group Audit and Risk Committee. When measuring the fair value of an asset or a liability, the Group uses market observable data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows. • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). • Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). If the inputs used to measure the fair value of an asset or a liability might be categorized in different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The Group recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

Changes in significant accoun_2

Changes in significant accounting policies Changes in significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2019
Disclosure Of Changes In Accounting Policies, Accounting Estimates And Errors [Abstract]
Description of accounting policy for leases	The Group recognizes a right-of-use asset and a lease liability at the lease commencement date. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group's incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The Group has applied judgement to determine the lease term for some lease contracts in which it is a lessee that include renewal options. The assessment of whether the Group is reasonably certain to exercise such options impacts the lease term, which significantly affects the amount of lease liabilities and right-of-use assets recognized.

Changes in significant accoun_3

Changes in significant accounting policies (Tables)	6 Months Ended
	Jun. 30, 2019
Disclosure Of Changes In Accounting Policies, Accounting Estimates And Errors [Abstract]
Disclosure of initial application of standards or interpretations	On transition to IFRS 16, the Group recognized right-of-use assets and lease liabilities at January 1, 2019. The impact on transition is summarized below. (in million of USD) Impact of adopting IFRS 16 at January 1, 2019 Right-of-use assets 87.6 Lease liabilities 105.3

Segment reporting (Tables)

Segment reporting (Tables)	6 Months Ended
	Jun. 30, 2019
Operating Segments [Abstract]
Schedule Financial Information by Segment	(in thousands of USD) For the six month period ended For the six month period ended June 30, 2019 June 30, 2018 * Tankers FSO Less: Equity-accounted investees Total Tankers FSO Less: Equity-accounted investees Total Revenue 401,936 24,473 (24,473) 401,936 202,746 24,323 (24,321) 202,748 Profit (loss) before income tax (28,693) 8,464 (803) (21,032) (60,168) 9,279 (854) (51,743) (in thousands of USD) June 30, 2019 December 31, 2018 Tankers FSO Less: Equity-accounted investees Total Tankers FSO Less: Equity-accounted investees Total Non-current assets 3,460,885 141,925 (103,383) 3,499,427 3,564,943 151,258 (109,991) 3,606,210 Current assets 617,010 10,791 (11,187) 616,614 521,536 15,784 (16,179) 521,141 TOTAL ASSETS 4,077,895 152,716 (114,570) 4,116,041 4,086,479 167,042 (126,170) 4,127,351 Equity 2,157,187 38,150 — 2,195,337 2,219,648 40,874 1 2,260,523 Non-current liabilities 1,517,655 88,579 (88,579) 1,517,655 1,579,706 102,118 (102,118) 1,579,706 Current liabilities 403,053 25,987 (25,991) 403,049 287,125 24,050 (24,053) 287,122 TOTAL LIABILITIES 4,077,895 152,716 (114,570) 4,116,041 4,086,479 167,042 (126,170) 4,127,351 * The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Assets and liabilities held f_2

Assets and liabilities held for sale and discontinued operations (Tables)	6 Months Ended
	Jun. 30, 2019
Non-Current Assets Held For Sale And Discontinued Operations [Abstract]
Assets held for sale	The assets held for sale can be detailed as follows: (in thousands of USD) June 30, 2019 December 31, 2018 Vessels 23,212 42,000 Of which in Tankers segment 23,212 42,000 Of which in FSO segment — —

Revenue and other operating i_2

Revenue and other operating income (Tables)	6 Months Ended
	Jun. 30, 2019
Analysis of income and expense [abstract]
Schedule Of Revenue Sources	In the following table, revenue is disaggregated by type of contract. For the six month period ended (in thousands of USD) June 30, 2019 June 30, 2018 Tankers FSO Less: Equity-accounted investees Total Tankers FSO Less: Equity-accounted investees Total Pool Revenue 217,791 — — 217,791 80,085 — 2 80,087 Spot Voyages 154,339 — — 154,339 83,218 — — 83,218 Time Charters 29,806 24,473 (24,473) 29,806 39,443 24,323 (24,323) 39,443 Total revenue 401,936 24,473 (24,473) 401,936 202,746 24,323 (24,321) 202,748 Other operating income — — — 3,160 — — — 2,133

Expenses for shipping activit_2

Expenses for shipping activities (Tables)	6 Months Ended
	Jun. 30, 2019
Analysis of income and expense [abstract]
Schedule of Voyage Expenses and Commissions	Voyage expenses and commissions For the six month period ended (in thousands of USD) June 30, 2019 June 30, 2018 Commissions paid (5,085) (2,742) Bunkers (52,716) (32,255) Other voyage related expenses (16,700) (11,280) Total voyage expenses and commissions (74,501) (46,277)
Schedule of Vessel Operating Expenses	Vessel operating expenses For the six month period ended (in thousands of USD) June 30, 2019 June 30, 2018 Operating expenses (99,487) (71,456) Insurance (7,888) (7,414) Total vessel operating expenses (107,375) (78,870)
Schedule of Charter Hire Expenses	Charter hire expenses For the six month period ended (in thousands of USD) June 30, 2019 June 30, 2018 Charter hire — — Bare boat hire — (15,432) Total charter hire expenses — (15,432)
Disclosure of General and Administrative Expenses	For the six month period ended (in thousands of USD) June 30, 2019 June 30, 2018 Wages and salaries (16,182) (7,929) Social security costs (1,793) (1,863) Provision for employee benefits 139 (319) Equity-settled share-based payments — (37) Other employee benefits (1,617) (1,836) Employee benefits (19,453) (11,984) Administrative expenses (17,017) (17,083) Tonnage Tax 360 (2,086) Claims 17 — Provisions (283) 3 Total general and administrative expenses (36,376) (31,150)

Net finance expense (Tables)

Net finance expense (Tables)	6 Months Ended
	Jun. 30, 2019
Financial Instruments [Abstract]
Disclosure of Net Finance Expense Recognized in Profit or Loss	For the six month period ended (in thousands of USD) June 30, 2019 * June 30, 2018 Interest income 4,232 545 Foreign exchange gains 10,894 6,640 Finance income 15,126 7,185 Interest expense on financial liabilities measured at amortized cost (42,681 ) (23,203 ) Interest leasing (2,685 ) — Fair value adjustment on interest rate swaps (3,025 ) (38 ) Other financial charges (2,962 ) (3,539 ) Foreign exchange losses (11,149 ) (7,198 ) Finance expense (62,502 ) (33,978 ) Net finance expense recognized in profit or loss (47,376 ) (26,793 ) * The Group has initially applied IFRS 16 at January 1, 2019.

Property, plant and equipment (

Property, plant and equipment (Tables)	6 Months Ended
	Jun. 30, 2019
Property, plant and equipment [abstract]
Schedule of information about property, plant and equipment	(in thousands of USD) Acquisitions Sale price Book Value Gain Deferred Gain Loss Cap Jean - Sale — 10,175 — 10,175 — — At June 30, 2018 10,175 — 10,175 — — Acquisitions Sale price Book Value Gain Deferred Gain Loss Genmar Compatriot - Sale — 6,615 6,173 442 — — Other — 13 — 13 — (74) At June 30, 2019 6,628 6,173 455 — (74) (in thousands of USD) Vessels Right-of-use assets Other tangible assets Total PPE At January 1, 2019 Cost 4,927,324 — 4,274 4,931,598 Depreciation & impairment losses (1,407,257) — (2,331) (1,409,588) Net carrying amount 3,520,067 — 1,943 3,522,010 Acquisitions 3,849 323 571 4,743 Adoption IFRS 16 (Note 4) — 87,598 — 87,598 Disposals and cancellations (6,173) — (51) (6,224) Depreciation charges (153,694) (14,522) (293) (168,509) Transfer to assets held for sale (Note 8) (23,212) — — (23,212) Translation differences — (17) (2) (19) Balance at June 30, 2019 3,340,837 73,382 2,168 3,416,387 At June 30, 2019 Cost 4,888,501 87,902 4,677 4,981,080 Depreciation & impairment losses (1,547,664) (14,520) (2,509) (1,564,693) Net carrying amount 3,340,837 73,382 2,168 3,416,387

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings per share [abstract]
Schedule of Earnings per share	Result attributable to ordinary shares For the six month period ended (in thousands of USD except share and per share information) June 30, 2019 June 30, 2018 Result for the period (19,030) (51,602) Weighted average 216,994,426 164,550,509 Basic earnings per share (in USD) (0.09) (0.31) The table below shows the potential weighted number of shares that could be created if all stock options and restricted stock units were to be converted into ordinary shares. (in shares) June 30, 2019 June 30, 2018 Weighted average of ordinary shares outstanding (basic) 216,994,426 164,550,509 Effect of share-based payment arrangements — 84,164 Weighted average number of ordinary shares (diluted) 216,994,426 164,634,673 (in shares) Shares issued Treasury shares Shares outstanding Weighted number of shares On issue at January 1, 2019 220,024,713 1,237,901 218,786,812 218,786,812 Issuance of shares — — — — Purchases of treasury shares — 3,287,667 (3,287,667) (1,792,386) Withdrawal of treasury shares — — — — Sales of treasury shares — — — — On issue at June 30, 2019 220,024,713 4,525,568 215,499,145 216,994,426

Interest-bearing loans and bo_2

Interest-bearing loans and borrowings (Tables)	6 Months Ended
	Jun. 30, 2019
Financial Instruments [Abstract]
Schedule of financial liabilities activity by maturity	Bank loans Convertible and other Notes Lease liabilities Total More than 5 years 433,662 — — 433,662 Between 1 and 5 years 987,803 148,166 — 1,135,969 More than 1 year 1,421,465 148,166 — 1,569,631 Less than 1 year 138,537 — — 138,537 At January 1, 2019 1,560,002 148,166 — 1,708,168 New loans 220,000 50,000 323 270,323 Adoption IFRS 16 (Note 4) — — 105,238 105,238 Scheduled repayments (53,516) — (17,043) (70,559) Early repayments (367,350) — — (367,350) Other changes 1,810 98 — 1,908 Translation differences — — (73) (73) Balance at June 30, 2019 1,360,946 198,264 88,445 1,647,655 More than 5 years 383,083 — 2,727 385,810 Between 1 and 5 years 866,421 198,264 56,820 1,121,505 More than 1 year 1,249,504 198,264 59,547 1,507,315 Less than 1 year 111,442 — 28,898 140,340 Balance at June 30, 2019 1,360,946 198,264 88,445 1,647,655
Schedule of interest-bearing loans and borrowings	The terms and conditions of outstanding loans were as follows: (in thousands of USD) June 30, 2019 December 31, 2018 Curr. Nominal interest rate Year of mat. Facility size Drawn Carrying value Facility size Drawn Carrying value Secured vessels loan 192M USD libor +2.25% 2021 57,930 57,930 57,134 79,762 79,762 78,746 Secured vessels Revolving loan 148M* USD libor +2.25% 2021 133,962 20,000 20,000 147,559 105,000 105,000 Secured vessels Revolving loan 750M* USD libor +1.95% 2022 358,814 190,000 187,633 395,289 165,000 162,002 Secured vessels Revolving loan 409.5M* USD libor +2.25% 2023 292,700 85,000 82,946 316,060 150,000 147,541 Secured vessels loan 27.1M USD libor +1.95% 2029 26,233 26,233 24,620 26,459 26,459 24,711 Secured vessels loan 81.4M USD libor +1.50% 2029 67,844 67,844 67,171 71,236 71,236 70,507 Secured vessels loan 69.4M USD libor + 2.0% 2030 65,949 65,949 65,949 68,263 68,263 68,263 Secured vessels loan 104.2M USD libor + 2.0% 2030 97,622 97,622 96,264 101,961 101,961 100,490 Secured vessels loan 89.7M USD libor +1.50% 2029 80,877 80,877 80,877 85,295 85,295 85,295 Secured vessels loan 221.4M USD libor +1.70% 2029 199,558 199,558 199,558 210,459 210,459 210,459 Secured vessels loan 126.8M USD libor +2.60% 2029 114,308 114,308 114,308 120,553 120,553 120,553 Secured vessels loan 195.7M USD libor + 2.75% 2022 181,281 181,281 181,281 188,481 188,481 188,481 Secured vessels Revolving loan 200.0M* USD libor + 2.0% 2025 187,172 145,000 143,205 200,000 200,000 197,955 Secured vessels Revolving loan 100.0M* USD libor + 2.1% 2021 100,000 — — — — — Unsecured bank facility 60M USD libor +2.25% 2020 60,000 40,000 40,000 60,000 — — Total interest-bearing bank loans 2,024,250 1,371,602 1,360,946 2,071,375 1,572,467 1,560,002 * The total amount available under the Revolving Credit Facility depends on the total value of the fleet of tankers securing the facility. (in thousands of USD) June 30, 2019 December 31, 2018 Curr. Nominal interest rate Year of mat. Facility size Drawn Carrying value Facility size Drawn Carrying value Unsecured notes USD 7.50% 2022 200,000 200,000 198,264 150,000 150,000 148,166 Total other notes 200,000 200,000 198,264 150,000 150,000 148,166

Trade and other payables (Table

Trade and other payables (Tables)	6 Months Ended
	Jun. 30, 2019
Subclassifications of assets, liabilities and equities [abstract]
Schedule of trade and other payables	(in thousands of USD) June 30, 2019 December 31, 2018 Advances received on contracts in progress, between 1 and 5 years 399 402 Derivatives 3,546 1,049 Total non-current other payables 3,945 1,451 Trade payables 30,586 16,266 Accrued expenses 37,085 42,524 Accrued payroll 2,314 5,595 Dividends payable 129 146 Accrued interest 10,588 10,833 Deferred income 14,886 7,754 Other payables 7,611 4,107 Total current trade and other payables 103,199 87,225

Financial instruments (Tables)

Financial instruments (Tables)	6 Months Ended
	Jun. 30, 2019
Disclosure of detailed information about financial instruments [abstract]
Disclosure of financial liabilities	The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value, such as trade and other receivables and payables. Carrying amount Fair value (in thousands of USD) Fair value -Hedging instruments Financial assets at amortized cost Other financial liabilities Total Level 1 Level 2 Level 3 Total December 31, 2018 Financial assets measured at fair value Forward exchange contracts 484 — — 484 — 484 — 484 Interest rate swaps (Note 19) 7,205 — — 7,205 — 7,205 — 7,205 Forward cap contracts (Note 19) 725 — — 725 — 725 — 725 8,414 — — 8,414 Financial assets not measured at fair value Non-current receivables (Note 19) — 30,728 — 30,728 — — 26,047 26,047 Trade and other receivables (Note 21) * — 263,186 — 263,186 — — — — Cash and cash equivalents — 173,133 — 173,133 — — — — — 467,047 — 467,047 Financial liabilities measured at fair value Interest rate swaps (Note 16) 1,049 — — 1,049 — 1,049 — 1,049 1,049 — — 1,049 Financial liabilities not measured at fair value Secured bank loans (Note 15) — — 1,560,002 1,560,002 — 1,575,196 — 1,575,196 Unsecured other notes (Note 15) — — 148,166 148,166 144,156 — — 144,156 Unsecured other borrowings (Note 15) — — 60,342 60,342 — — — — Trade and other payables (Note 16) * — — 79,442 79,442 — — — — Advances received on contracts (Note 16) — — 402 402 — — — — — — 1,848,354 1,848,354 Carrying amount Fair value (in thousands of USD) Fair value -Hedging instruments Financial assets at amortized cost Other financial liabilities Total Level 1 Level 2 Level 3 Total June 30, 2019 Financial assets measured at fair value Forward exchange contracts (Note 15) 1,810 — — 1,810 — 1,810 — 1,810 Interest rate swaps (Note 19) 382 — — 382 — 382 — 382 Forward cap contracts (Note 19) 157 — — 157 — 157 — 157 Commodity derivatives (Note 21) 1,781 — — 1,781 — 1,781 — 1,781 4,130 — — 4,130 Financial assets not measured at fair value Non-current receivables (Note 19) — 37,736 — 37,736 — — 33,455 33,455 Trade and other receivables (Note 21) * — 224,664 — 224,664 — — — — Cash and cash equivalents — 203,636 — 203,636 — — — — — 466,036 — 466,036 Financial liabilities measured at fair value Interest rate swaps (Note 16) 3,546 — — 3,546 — 3,546 — 3,546 3,546 — — 3,546 Financial liabilities not measured at fair value Secured bank loans (Note 15) — — 1,360,946 1,360,946 — 1,366,899 — 1,366,899 Unsecured other notes (Note 15) — — 198,264 198,264 202,680 — — 202,680 Unsecured other borrowings (Note 15) — — 159,038 159,038 — — — — Lease liabilities (Note 15) — — 88,445 88,445 — 86,420 — 86,420 Trade and other payables (Note 16) * — — 88,062 88,062 — — — — Advances received on contracts (Note 16) — — 399 399 — — — — — — 1,895,154 1,895,154 * Deferred charges, deferred fulfillment costs and VAT receivables (included in other receivables) (see Note 20), deferred income and VAT payables (included in other payables) (see Note 16), which are not financial assets (liabilities) are not included.
Disclosure of financial assets	The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value, such as trade and other receivables and payables. Carrying amount Fair value (in thousands of USD) Fair value -Hedging instruments Financial assets at amortized cost Other financial liabilities Total Level 1 Level 2 Level 3 Total December 31, 2018 Financial assets measured at fair value Forward exchange contracts 484 — — 484 — 484 — 484 Interest rate swaps (Note 19) 7,205 — — 7,205 — 7,205 — 7,205 Forward cap contracts (Note 19) 725 — — 725 — 725 — 725 8,414 — — 8,414 Financial assets not measured at fair value Non-current receivables (Note 19) — 30,728 — 30,728 — — 26,047 26,047 Trade and other receivables (Note 21) * — 263,186 — 263,186 — — — — Cash and cash equivalents — 173,133 — 173,133 — — — — — 467,047 — 467,047 Financial liabilities measured at fair value Interest rate swaps (Note 16) 1,049 — — 1,049 — 1,049 — 1,049 1,049 — — 1,049 Financial liabilities not measured at fair value Secured bank loans (Note 15) — — 1,560,002 1,560,002 — 1,575,196 — 1,575,196 Unsecured other notes (Note 15) — — 148,166 148,166 144,156 — — 144,156 Unsecured other borrowings (Note 15) — — 60,342 60,342 — — — — Trade and other payables (Note 16) * — — 79,442 79,442 — — — — Advances received on contracts (Note 16) — — 402 402 — — — — — — 1,848,354 1,848,354 Carrying amount Fair value (in thousands of USD) Fair value -Hedging instruments Financial assets at amortized cost Other financial liabilities Total Level 1 Level 2 Level 3 Total June 30, 2019 Financial assets measured at fair value Forward exchange contracts (Note 15) 1,810 — — 1,810 — 1,810 — 1,810 Interest rate swaps (Note 19) 382 — — 382 — 382 — 382 Forward cap contracts (Note 19) 157 — — 157 — 157 — 157 Commodity derivatives (Note 21) 1,781 — — 1,781 — 1,781 — 1,781 4,130 — — 4,130 Financial assets not measured at fair value Non-current receivables (Note 19) — 37,736 — 37,736 — — 33,455 33,455 Trade and other receivables (Note 21) * — 224,664 — 224,664 — — — — Cash and cash equivalents — 203,636 — 203,636 — — — — — 466,036 — 466,036 Financial liabilities measured at fair value Interest rate swaps (Note 16) 3,546 — — 3,546 — 3,546 — 3,546 3,546 — — 3,546 Financial liabilities not measured at fair value Secured bank loans (Note 15) — — 1,360,946 1,360,946 — 1,366,899 — 1,366,899 Unsecured other notes (Note 15) — — 198,264 198,264 202,680 — — 202,680 Unsecured other borrowings (Note 15) — — 159,038 159,038 — — — — Lease liabilities (Note 15) — — 88,445 88,445 — 86,420 — 86,420 Trade and other payables (Note 16) * — — 88,062 88,062 — — — — Advances received on contracts (Note 16) — — 399 399 — — — — — — 1,895,154 1,895,154 * Deferred charges, deferred fulfillment costs and VAT receivables (included in other receivables) (see Note 20), deferred income and VAT payables (included in other payables) (see Note 16), which are not financial assets (liabilities) are not included.
Disclosure of financial instruments not measured at fair value	Financial instruments measured at fair value Type Valuation Techniques Significant unobservable inputs Forward exchange contracts Forward pricing: the fair value is determined using quoted forward exchange rates at the reporting date and present value calculations based on high credit quality yield curve in the respective currencies. Not applicable Interest rate swaps and commodity contracts Swap models: the fair value is calculated as the present value of the estimated future cash flows. Estimates of future floating-rate cash flows are based on quoted swap rates, futures prices and interbank borrowing rates. Not applicable Forward cap contracts Fair values for both the derivative and the hypothetical derivative will be determined based on a software used to calculate the net present value of the expected cash flows using LIBOR rate curves, futures and basis spreads. Not applicable Financial instruments not measured at fair value Type Valuation Techniques Significant unobservable inputs Non-current receivables (consisting primarily of shareholders' loans) Discounted cash flow Discount rate and forecasted cash flows Other financial liabilities (consisting of secured and unsecured bank loans and lease liabilities) Discounted cash flow Discount rate Other financial notes (consisting of unsecured notes) Not applicable Not applicable
Schedule and maturity of non-derivative liabilities	The following are the remaining contractual maturities of financial liabilities: Contractual cash flows December 31, 2018 (in thousands of USD) Carrying Amount Total Less than 1 year Between 1 and 5 years More than 5 years Non derivative financial liabilities Bank loans and other notes (Note 15) 1,708,168 2,034,794 364,122 1,176,317 494,355 Other borrowings (Note 15) 60,342 60,342 60,342 — — Lease liabilities (Note 15) — — — — — Current trade and other payables (Note 16) * 79,442 79,442 79,442 — — 1,847,952 2,174,578 503,906 1,176,317 494,355 Derivative financial liabilities Interest rate swaps — 2,627 461 1,628 538 Forward exchange contracts — — — — — — 2,627 461 1,628 538 Contractual cash flows June 30, 2019 Carrying Amount Total Less than 1 year Between 1 and 5 years More than 5 years Non derivative financial liabilities Bank loans and other notes (Note 15) 1,559,210 1,856,565 220,461 1,201,425 434,679 Other borrowings (Note 15) 159,038 159,038 159,038 — — Lease liabilities (Note 15) 88,445 97,008 63,712 30,488 2,808 Current trade and other payables (Note 16) * 88,062 88,062 88,062 — — 1,894,755 2,200,672 531,272 1,231,913 437,487 Derivative financial liabilities Interest rate swaps — 2,155 412 1,553 191 Forward exchange contracts — — — — — — 2,155 412 1,553 191 * Deferred income and VAT payables (included in other payables) (see Note 16), which are not financial liabilities, are not included.

Non-current receivables (Tables

Non-current receivables (Tables)	6 Months Ended
	Jun. 30, 2019
Subclassifications of assets, liabilities and equities [abstract]
Schedule of Non-Current Receivables	(in thousands of USD) June 30, 2019 December 31, 2018 Shareholders loans to joint ventures 26,215 28,665 Derivatives 539 7,930 Other non-current receivables 2,068 2,062 Lease receivables 9,452 — Investment 1 1 Total non-current receivables 38,275 38,658

Trade and other receivables (Ta

Trade and other receivables (Tables)	6 Months Ended
	Jun. 30, 2019
Subclassifications of assets, liabilities and equities [abstract]
Schedule of trade and other current receivables	(in thousands of USD) June 30, 2019 December 31, 2018 Receivable from contracts with customers 63,674 64,923 Accrued income 15,590 17,765 Accrued interest 1,376 750 Deferred charges 18,487 39,734 Deferred fulfillment costs — 2,140 Receivable from contracts with customers - TI Pool 122,429 161,737 Other receivables 16,714 18,677 Lease receivables 1,511 — Derivatives 3,591 — Total trade and other receivables 243,372 305,726

Provisions and contingencies Pr

Provisions and contingencies Provisions and contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Disclosure of other provisions, contingent liabilities and contingent assets [Abstract]
Provisions and contingencies	(in thousands of USD) Onerous contract Total At January 1, 2019 5,265 5,265 Adoption IFRS 16 (3,049 ) (3,049 ) Provisions used during the year (325 ) (325 ) Balance at June 30, 2019 1,891 1,891 Non-current 1,591 1,591 Current 300 300 Total 1,891 1,891

Equity-accounted investees (Tab

Equity-accounted investees (Tables)	6 Months Ended
	Jun. 30, 2019
Interests in Other Entities [Abstract]
Disclosure of interests in joint ventures	(in thousands of USD) June 30, 2019 December 31, 2018 Assets Interest in joint ventures 40,457 43,182 Interest in associates — — TOTAL ASSETS 40,457 43,182
Disclosure of interests in associates	(in thousands of USD) June 30, 2019 December 31, 2018 Assets Interest in joint ventures 40,457 43,182 Interest in associates — — TOTAL ASSETS 40,457 43,182
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 LIABILITY (in thousands of USD) Investments in equity accounted investees Shareholders loans Investments in equity accounted investees Shareholders loans Gross balance 27,565 162,763 — — Offset investment with shareholders loan 3,030 (3,030) — — Balance at January 1, 2018 30,595 159,733 — — Group's share of profit (loss) for the period 16,076 — — — Group's share of other comprehensive income (459) — — — Movement shareholders loans to joint ventures — (134,097) — — Gross balance 43,182 28,666 — — Offset investment with shareholders loan — — — — Balance at December 31, 2018 43,182 28,666 — — Group's share of profit (loss) for the period 7,660 — — — Group's share of other comprehensive income (1,034) — — — Dividends received from joint ventures (9,350) — — — Movement shareholders loans to joint ventures — (2,450) — — Gross balance 40,457 26,216 — — Offset investment with shareholders loan — — — — Balance at June 30, 2019 40,457 26,216 — —

Changes in significant accoun_4

Changes in significant accounting policies - Summary of impact of transition to IFRS 16 (Details) - USD ($)	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	[1]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	$ 73,382,000		$ 0
Lease liabilities	88,400,000
Retained earnings	$ 302,701,000		$ 335,764,000
IFRS 16
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets		$ 87,600,000
Lease liabilities		105,300,000
Reduction of right-of-use assets from lease receivables		11,400,000
Reduction of right-of-use assets for deferred gain		3,000,000
Reduction of right-of-use assets for onerous lease contracts		3,200,000
Retained earnings		$ 0
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Changes in significant accoun_5

Changes in significant accounting policies - Summary of impacts for the period of transition to IFRS 16 (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disclosure Of Changes In Accounting Policies, Accounting Estimates And Errors [Abstract]
Additions to right-of-use assets	$ 87,900
Lease liabilities	88,400
Depreciation, right-of-use assets	14,500
Interest expense on lease liabilities	$ 2,685	$ 0

Changes in consolidation scope

Changes in consolidation scope (Details)	6 Months Ended
	Jun. 30, 2019subsidiary
Disclosure Of General Information About Financial Statements [Abstract]
Number of subsidiaries established or acquired during the period	0

Significant events (Details)

Significant events (Details)	Feb. 20, 2019USD ($)T	Oct. 31, 2018USD ($)T	Jun. 30, 2019USD ($)shares	Jun. 30, 2018USD ($)	[1]	Jun. 27, 2019USD ($)	Jun. 14, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)shares		Mar. 29, 2018USD ($)
Disclosure of detailed information about borrowings [line items]
Treasury stock (in shares) | shares			215,499,145						218,786,812
Percentage of outstanding shares held in treasury			2.06%
Non-current assets held for sale (Note 8)			$ 23,212,000						$ 42,000,000	[1]
Losses on disposals of property, plant and equipment			74,000	$ 0
LR1 Genmar Compatriot
Disclosure of detailed information about borrowings [line items]
Proceeds from sale of vessel			6,615,000
Losses on disposals of property, plant and equipment			0
Gains on disposals of property, plant and equipment			442,000
Vessels
Disclosure of detailed information about borrowings [line items]
Non-current assets held for sale (Note 8)			23,212,000						42,000,000
Vessels | Suezmax Felicity
Disclosure of detailed information about borrowings [line items]
VLCC weight (in deadweight tons) | T		157,667
Proceeds from sale of vessel		$ 42,000,000
Losses on disposals of property, plant and equipment		3,000,000
Vessels | LR1 Genmar Compatriot
Disclosure of detailed information about borrowings [line items]
VLCC weight (in deadweight tons) | T	72,768
Proceeds from sale of vessel	$ 6,750,000
Gains on disposals of property, plant and equipment	$ 400,000
Carrying value | Vessels | Suezmax Felicity
Disclosure of detailed information about borrowings [line items]
Non-current assets held for sale (Note 8)		$ 45,000,000
Unsecured Note Due 2022 With Fixed Coupon Rate 7.50%
Disclosure of detailed information about borrowings [line items]
Notional amount			$ 200,000,000				$ 50,000,000		$ 150,000,000
Borrowings, interest rate							7.50%
Borrowings, premium							101.00%
Senior Secured Loans
Disclosure of detailed information about borrowings [line items]
Notional amount						$ 100,000,000		$ 220,000,000			$ 220,000,000
Treasury shares
Disclosure of detailed information about borrowings [line items]
Treasury stock (in shares) | shares			4,525,568						1,237,901
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Segment reporting - Narrative (

Segment reporting - Narrative (Details)	6 Months Ended
	Jun. 30, 2019segment
Disclosure of operating segments [line items]
Number of operating segments	2
Tankers
Disclosure of operating segments [line items]
Contract duration of project (less than)	2 years

Segment reporting - Financial i

Segment reporting - Financial information by segment (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018		Dec. 31, 2018		Dec. 31, 2017
Disclosure of operating segments [line items]
Revenue	$ 401,936	$ 202,748	[1]
Profit (loss) before income tax	(21,032)	(51,743)	[1]
Non-current assets	3,499,427			$ 3,606,210	[1]
Current assets	616,614			521,141	[1]
TOTAL ASSETS	4,116,041			4,127,351	[1]
Equity	2,195,337	2,336,580		2,260,523	[1]	$ 1,846,360
Non-current liabilities	1,517,655			1,579,706	[1]
Current liabilities	403,049			287,122	[1]
TOTAL EQUITY and LIABILITIES	4,116,041			4,127,351	[1]
Operating segments | Tankers
Disclosure of operating segments [line items]
Revenue	401,936	202,746
Profit (loss) before income tax	(28,693)	(60,168)
Non-current assets	3,460,885			3,564,943
Current assets	617,010			521,536
TOTAL ASSETS	4,077,895			4,086,479
Equity	2,157,187			2,219,648
Non-current liabilities	1,517,655			1,579,706
Current liabilities	403,053			287,125
TOTAL EQUITY and LIABILITIES	4,077,895			4,086,479
Operating segments | FSO
Disclosure of operating segments [line items]
Revenue	24,473	24,323
Profit (loss) before income tax	8,464	9,279
Non-current assets	141,925			151,258
Current assets	10,791			15,784
TOTAL ASSETS	152,716			167,042
Equity	38,150			40,874
Non-current liabilities	88,579			102,118
Current liabilities	25,987			24,050
TOTAL EQUITY and LIABILITIES	152,716			167,042
Less: Equity-accounted investees
Disclosure of operating segments [line items]
Revenue	(24,473)	(24,321)
Profit (loss) before income tax	(803)	$ (854)
Non-current assets	(103,383)			(109,991)
Current assets	(11,187)			(16,179)
TOTAL ASSETS	(114,570)			(126,170)
Equity	0			1
Non-current liabilities	(88,579)			(102,118)
Current liabilities	(25,991)			(24,053)
TOTAL EQUITY and LIABILITIES	$ (114,570)			$ (126,170)
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Assets and liabilities held f_3

Assets and liabilities held for sale and discontinued operations - Schedule of assets held for sale (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Non-current assets or disposal groups classified as held for sale	$ 23,212	$ 42,000	[1]
Vessels
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Non-current assets or disposal groups classified as held for sale	23,212	42,000
Vessels | Tankers
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Non-current assets or disposal groups classified as held for sale	23,212	42,000
Vessels | FSO
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Non-current assets or disposal groups classified as held for sale	$ 0	$ 0
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Assets and liabilities held f_4

Assets and liabilities held for sale and discontinued operations - Narrative (Details) $ in Thousands	Jul. 12, 2019USD ($)T	Jun. 30, 2019USD ($)operation	Dec. 31, 2018USD ($)operation
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Non-current assets or disposal groups classified as held for sale		$ 23,212	$ 42,000	[1]
Number of discontinued operations | operation		0	0
Vessels
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Non-current assets or disposal groups classified as held for sale		$ 23,212	$ 42,000
VLCC V.K. Eddie | Vessels
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
VLCC weight (in deadweight tons) | T	305,261
Proceeds from sales of vessels previously held for sale	$ 38,000
Non-current assets or disposal groups classified as held for sale	23,200
Costs to sell	400
Gains on disposals of property, plant and equipment	$ 14,400
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Revenue and other operating i_3

Revenue and other operating income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disclosure Of Revenue Sources [Line Items]
Revenue	$ 401,936	$ 202,748	[1]
Other operating income	3,160	2,133	[1]
Pool Revenue
Disclosure Of Revenue Sources [Line Items]
Revenue	217,791	80,087
Spot Voyages
Disclosure Of Revenue Sources [Line Items]
Revenue	154,339	83,218
Time Charters
Disclosure Of Revenue Sources [Line Items]
Revenue	29,806	39,443
Operating segments | Tankers
Disclosure Of Revenue Sources [Line Items]
Revenue	401,936	202,746
Other operating income	0	0
Operating segments | Tankers | Pool Revenue
Disclosure Of Revenue Sources [Line Items]
Revenue	217,791	80,085
Operating segments | Tankers | Spot Voyages
Disclosure Of Revenue Sources [Line Items]
Revenue	154,339	83,218
Operating segments | Tankers | Time Charters
Disclosure Of Revenue Sources [Line Items]
Revenue	29,806	39,443
Operating segments | FSO
Disclosure Of Revenue Sources [Line Items]
Revenue	24,473	24,323
Other operating income	0	0
Operating segments | FSO | Pool Revenue
Disclosure Of Revenue Sources [Line Items]
Revenue	0	0
Operating segments | FSO | Spot Voyages
Disclosure Of Revenue Sources [Line Items]
Revenue	0	0
Operating segments | FSO | Time Charters
Disclosure Of Revenue Sources [Line Items]
Revenue	24,473	24,323
Less: Equity-accounted investees
Disclosure Of Revenue Sources [Line Items]
Revenue	(24,473)	(24,321)
Other operating income	0	0
Less: Equity-accounted investees | Pool Revenue
Disclosure Of Revenue Sources [Line Items]
Revenue	0	2
Less: Equity-accounted investees | Spot Voyages
Disclosure Of Revenue Sources [Line Items]
Revenue	0	0
Less: Equity-accounted investees | Time Charters
Disclosure Of Revenue Sources [Line Items]
Revenue	$ (24,473)	$ (24,323)
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Expenses for shipping activit_3

Expenses for shipping activities - Voyage commissions and expenses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Analysis of income and expense [abstract]
Commissions paid	$ (5,085)	$ (2,742)
Voyage related expenses	(52,716)	(32,255)
Other voyage related expenses	(16,700)	(11,280)
Total voyage expenses and commissions	$ (74,501)	$ (46,277)	[1]
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Expenses for shipping activit_4

Expenses for shipping activities - Vessel operating expenses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Analysis of income and expense [abstract]
Operating expenses	$ (99,487)	$ (71,456)
Insurance	(7,888)	(7,414)
Total vessel operating expenses	$ (107,375)	$ (78,870)	[1]
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Expenses for shipping activit_5

Expenses for shipping activities - Charter hire expenses (Details) $ in Thousands	Dec. 16, 2016	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)vessel
Disclosure of operating segments [line items]
Total charter hire expenses		$ 0	$ (15,432)	[1]
Time Charters
Disclosure of operating segments [line items]
Total charter hire expenses		0	0
Bareboat charter
Disclosure of operating segments [line items]
Total charter hire expenses		$ 0	$ (15,432)
Sale and leaseback agreement - bare boat hire | Vessels
Disclosure of operating segments [line items]
Number of VLCCs delivered | vessel			4
Leaseback term	5 years
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Expenses for shipping activit_6

Expenses for shipping activities - General and administrative expenses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Analysis of income and expense [abstract]
Wages and salaries	$ (16,182)	$ (7,929)
Social security costs	(1,793)	(1,863)
Provision for employee benefits	139	(319)
Equity-settled share-based payments	0	(37)
Other employee benefits	(1,617)	(1,836)
Employee benefits	(19,453)	(11,984)
Administrative expenses	(17,017)	(17,083)
Tonnage Tax	360	(2,086)
Claims	17	0
Provisions	(283)	3
Total general and administrative expenses	$ (36,376)	$ (31,150)	[1]
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Net finance expense (Details)

Net finance expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Financial Instruments [Abstract]
Interest income	$ 4,232	$ 545
Foreign exchange gains	10,894	6,640
Finance income	15,126	7,185	[1]
Interest expense on financial liabilities measured at amortized cost	(42,681)	(23,203)
Interest leasing	(2,685)	0
Fair value adjustment on interest rate swaps	(3,025)	(38)
Other financial charges	(2,962)	(3,539)
Foreign exchange losses	(11,149)	(7,198)
Finance expense	(62,502)	(33,978)	[1]
Net finance expenses	$ (47,376)	$ (26,793)	[1]
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Property, plant and equipment -

Property, plant and equipment - Schedule of property, plant and equipment (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	$ 3,522,010
Acquisitions	4,743
Acquisitions through business combinations, property	87,598
Disposals and cancellations	(6,224)
Depreciation charges	(168,509)
Transfer to assets held for sale	(23,212)
Translation differences	(19)
Property, plant and equipment, ending balance	3,416,387
Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	4,931,598
Property, plant and equipment, ending balance	4,981,080
Depreciation & impairment losses
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	(1,409,588)
Property, plant and equipment, ending balance	(1,564,693)
Vessels
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	3,520,067
Acquisitions	3,849
Acquisitions through business combinations, property	0
Disposals and cancellations	(6,173)
Depreciation charges	(153,694)
Transfer to assets held for sale	(23,212)
Translation differences	0
Property, plant and equipment, ending balance	3,340,837
Vessels | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	4,927,324
Property, plant and equipment, ending balance	4,888,501
Vessels | Depreciation & impairment losses
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	(1,407,257)
Property, plant and equipment, ending balance	(1,547,664)
Right-of-use assets
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	0
Acquisitions	323
Acquisitions through business combinations, property	87,598
Disposals and cancellations	0
Depreciation charges	(14,522)
Transfer to assets held for sale	0
Translation differences	(17)
Property, plant and equipment, ending balance	73,382
Right-of-use assets | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	0
Property, plant and equipment, ending balance	87,902
Right-of-use assets | Depreciation & impairment losses
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	0
Property, plant and equipment, ending balance	(14,520)
Other tangible assets
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	1,943
Acquisitions	571
Acquisitions through business combinations, property	0
Disposals and cancellations	(51)
Depreciation charges	(293)
Transfer to assets held for sale	0
Translation differences	(2)
Property, plant and equipment, ending balance	2,168
Other tangible assets | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	4,274
Property, plant and equipment, ending balance	4,677
Other tangible assets | Depreciation & impairment losses
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment, beginning balance	(2,331)
Property, plant and equipment, ending balance	$ (2,509)

Property, plant and equipment_2

Property, plant and equipment - Narrative (Details)	Feb. 20, 2019USD ($)T	Oct. 31, 2018USD ($)T	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)		Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets			$ 73,382,000				$ 0	[1]
Non-current assets or disposal groups classified as held for sale			23,212,000				42,000,000	[1]
Losses on disposals of property, plant and equipment			74,000	$ 0	[1]
LR1 Genmar Compatriot
Disclosure of detailed information about property, plant and equipment [line items]
Losses on disposals of property, plant and equipment			0
Gains on disposals of property, plant and equipment			442,000
Vessels
Disclosure of detailed information about property, plant and equipment [line items]
Non-current assets or disposal groups classified as held for sale			$ 23,212,000				$ 42,000,000
Historical charter rates			20 years
Vessels | Suezmax Felicity
Disclosure of detailed information about property, plant and equipment [line items]
VLCC weight (in deadweight tons) | T		157,667
Sales price, net of sale commissions		$ 42,000,000
Losses on disposals of property, plant and equipment		3,000,000
Vessels | LR1 Genmar Compatriot
Disclosure of detailed information about property, plant and equipment [line items]
VLCC weight (in deadweight tons) | T	72,768
Sales price, net of sale commissions	$ 6,600,000
Gains on disposals of property, plant and equipment	$ 400,000
Vessels | Floating Storage And Offloading
Disclosure of detailed information about property, plant and equipment [line items]
Weighted average cost of capital for cash flow projections			7.58%	7.70%
Estimated useful life			25 years
Residual value			$ 0
Increase in weighted average cost of capital, beginning			3.00%
Vessels | Tankers
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life			20 years
Residual value			$ 0
Increase in weighted average cost of capital, beginning			3.00%
Increase in weighted average cost of capital, ending			10.58%
Vessels | Tanker Fleet, Ten-Year Historical Charter Rates
Disclosure of detailed information about property, plant and equipment [line items]
Historical charter rates			10 years
Impairment of tanker fleet			$ 47,000,000	$ 47,900,000
Vessels | Tanker Fleet, Five-Year Historical Charter Rates
Disclosure of detailed information about property, plant and equipment [line items]
Historical charter rates			5 years
Impairment of tanker fleet			$ 0	0
Vessels | Tanker Fleet, One-Year Historical Charter Rates
Disclosure of detailed information about property, plant and equipment [line items]
Historical charter rates			1 year
Impairment of tanker fleet			$ 47,300,000	$ 92,700,000
Carrying value | Vessels | Suezmax Felicity
Disclosure of detailed information about property, plant and equipment [line items]
Non-current assets or disposal groups classified as held for sale		$ 45,000,000
IFRS 16
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets						$ 87,600,000
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Property, plant and equipment_3

Property, plant and equipment - Schedule of disposal of assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018		Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Book Value	$ 3,416,387			$ 3,522,010
Loss	(74)	$ 0	[1]
Cap Jean
Disclosure of detailed information about property, plant and equipment [line items]
Sale price		10,175
Gain		10,175
Deferred Gain		0
Loss		0
LR1 Genmar Compatriot
Disclosure of detailed information about property, plant and equipment [line items]
Sale price	6,615
Gain	442
Deferred Gain	0
Loss	0
Other
Disclosure of detailed information about property, plant and equipment [line items]
Sale price	13
Gain	13
Deferred Gain	0
Loss	(74)
Assets Sold From Assets Held For Sale
Disclosure of detailed information about property, plant and equipment [line items]
Sale price	6,628	10,175
Gain	455	10,175
Deferred Gain	0	0
Loss	(74)	0
Book Value
Disclosure of detailed information about property, plant and equipment [line items]
Book Value	4,981,080			$ 4,931,598
Book Value | Cap Jean
Disclosure of detailed information about property, plant and equipment [line items]
Book Value		0
Book Value | LR1 Genmar Compatriot
Disclosure of detailed information about property, plant and equipment [line items]
Book Value	6,173
Book Value | Other
Disclosure of detailed information about property, plant and equipment [line items]
Book Value	0
Book Value | Assets Sold From Assets Held For Sale
Disclosure of detailed information about property, plant and equipment [line items]
Book Value	$ 6,173	$ 0
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Equity (Details)

Equity (Details)

Jun. 30, 2019USD ($)shares

May 09, 2019$ / shares

Jan. 31, 2019shares

Dec. 07, 2018USD ($)

Feb. 16, 2018shares

Feb. 09, 2017shares

Feb. 02, 2016shares

Feb. 12, 2015shares$ / shares

Aug. 31, 2018$ / shares

Jun. 30, 2019USD ($)$ / sharesshares

Jun. 30, 2018USD ($)

Dec. 31, 2015

Jun. 27, 2019USD ($)

Mar. 31, 2019USD ($)

Dec. 31, 2018shares

Jun. 12, 2018USD ($)

Apr. 20, 2018USD ($)

Mar. 29, 2018USD ($)

Disclosure of classes of share capital [line items]

Number of shares outstanding (in shares) | shares

215,499,145

215,499,145

218,786,812

Treasury shares purchased (in shares) | shares

3,287,667

Purchase of treasury shares

$ 27,000,000

Dividend payables (in dollars per share) | $ / shares

$ 0.12

$ 0.06

Dividends paid, ordinary shares

13,000,000

Expense from share-based payment transactions with employees

$ 0

$ 37,000

Share capital

Disclosure of classes of share capital [line items]

Number of shares outstanding (in shares) | shares

220,024,713

220,024,713

220,024,713

Treasury shares

Disclosure of classes of share capital [line items]

Number of shares outstanding (in shares) | shares

4,525,568

4,525,568

1,237,901

Long term incentive plan 2015

Disclosure of classes of share capital [line items]

Number of options granted (in shares) | shares

236,590

Exercise price, share options granted (in dollars per share) | $ / shares

$ 10.0475

Expense from share-based payment transactions with employees

$ 0

Long term incentive plan 2015 | Stock Option

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

40.00%

Vesting period

3 years

Share based payment award expiration period

13 years

Long term incentive plan 2015 | Restricted stock units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

60.00%

Equity instruments granted (in shares) | shares

65,433

Long term incentive plan 2016 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Equity instruments granted (in shares) | shares

12,500

54,616

Expense from share-based payment transactions with employees

(200,000)

Long term incentive plan 2017 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Equity instruments granted (in shares) | shares

32,420

66,449

Expense from share-based payment transactions with employees

(200,000)

Long term incentive plan 2018 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Equity instruments granted (in shares) | shares

107,780

154,432

Expense from share-based payment transactions with employees

200,000

Long term incentive plan 2019 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Equity instruments granted (in shares) | shares

800,000

1,200,000

Expense from share-based payment transactions with employees

$ 600,000

Senior Secured Loans

Disclosure of classes of share capital [line items]

Notional amount

$ 100,000,000

$ 220,000,000

$ 220,000,000

Tranche 1 | Long term incentive plan 2016 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

33.33%

Tranche 1 | Long term incentive plan 2017 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

33.33%

Tranche 1 | Long term incentive plan 2018 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

33.33%

Tranche 1 | Long term incentive plan 2019 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

12.00%

Award vesting target price (in dollars per share) | $ / shares

$ 12

Tranche 2 | Long term incentive plan 2016 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

33.33%

Tranche 2 | Long term incentive plan 2017 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

33.33%

Tranche 2 | Long term incentive plan 2018 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

33.33%

Tranche 2 | Long term incentive plan 2019 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

19.00%

Award vesting target price (in dollars per share) | $ / shares

$ 14

Tranche 3 | Long term incentive plan 2016 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

33.33%

Tranche 3 | Long term incentive plan 2017 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

33.33%

Tranche 3 | Long term incentive plan 2018 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

33.33%

Tranche 3 | Long term incentive plan 2019 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

25.00%

Award vesting target price (in dollars per share) | $ / shares

$ 16

Tranche 4 | Long term incentive plan 2019 | Phantom Stock Units

Disclosure of classes of share capital [line items]

Percentage of stock obtained by beneficiaries

44.00%

Award vesting target price (in dollars per share) | $ / shares

$ 18

Interest rate swaps | Gener8 Maritime, Inc.

Disclosure of classes of share capital [line items]

Notional amount

$ 668,000,000

Financial instruments fair value

300,000

Financial assets at fair value through other comprehensive income

$ (3,800,000)

Commodity Swap

Disclosure of classes of share capital [line items]

Notional amount

$ 60,600,000

$ 60,600,000

Financial instruments fair value

1,800,000

1,800,000

Gains (losses) on cash flow hedges, before tax

1,800,000

Forward Exchange Contract

Disclosure of classes of share capital [line items]

Notional amount

$ 200,000,000

Financial instruments fair value

200,000

200,000

Derivative strike rate

3.25%

Gains (losses) on cash flow hedges, before tax

(600,000)

Joint ventures | Interest rate swaps

Disclosure of classes of share capital [line items]

Derivative notional amount

208,800,000

$ 208,800,000

Percent ownership in derivative

50.00%

Derivative instrument remaining term

4 years

Financial instruments fair value

(3,000,000)

$ (3,000,000)

Other comprehensive income, net of tax, gains (losses) on hedging instruments that hedge investments in equity instruments

(2,000,000)

Long term charter parties | Interest rate swaps

Disclosure of classes of share capital [line items]

Notional amount

173,600,000

173,600,000

$ 86,800,000

Financial instruments fair value

(3,500,000)

(3,500,000)

Financial assets at fair value through other comprehensive income

$ (2,500,000)

$ (2,500,000)

Minimum | Interest rate swaps | Gener8 Maritime, Inc.

Disclosure of classes of share capital [line items]

Derivative instrument remaining term

1 year

Maximum | Interest rate swaps | Gener8 Maritime, Inc.

Disclosure of classes of share capital [line items]

Derivative instrument remaining term

2 years

Earnings per share - Narrative

Earnings per share - Narrative (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2018	Jun. 30, 2019	Jun. 30, 2018	[1]
Earnings per share [line items]
Result for the period				$ (19,030,395)	$ (51,602,299)
Weighted average number of ordinary shares outstanding (in shares)			218,786,812	216,994,426	164,550,509
Diluted earnings per share (in dollars per share)				$ (0.09)	$ (0.31)
Remaining outstanding instruments with potentially dilutive effects (in shares)	0			0
Long term incentive plan 2015
Earnings per share [line items]
Anti-dilutive securities excluded (in shares)	236,590	236,590
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Earnings per share - Result att

Earnings per share - Result attributable to ordinary shares (Details) - USD ($)	Jan. 01, 2018	Jun. 30, 2019	Jun. 30, 2018	[1]
Earnings per share [abstract]
Result for the period		$ (19,030,395)	$ (51,602,299)
Weighted average number of shares (basic) (in shares)	218,786,812	216,994,426	164,550,509
Basic earnings per share (in dollars per share)		$ (0.09)	$ (0.31)
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Earnings per share - Weighted a

Earnings per share - Weighted average number of ordinary share (Details) - shares	Jan. 01, 2018	Jun. 30, 2019	Jun. 30, 2018	[1]
Earnings per share [line items]
Beginning of period (in shares)		218,786,812
Issuance of shares (in shares)		3,287,667
End of period (in shares)		215,499,145
Reconciliation Of Changes In Weighted Average Shares Outstanding [Roll Forward]
Weighted average number of shares (basic) (in shares)	218,786,812	216,994,426	164,550,509
Issuance of shares (in shares)		(1,792,386)
Shares issued
Earnings per share [line items]
Beginning of period (in shares)		220,024,713
Issuance of shares (in shares)		0
End of period (in shares)		220,024,713
Treasury shares
Earnings per share [line items]
Beginning of period (in shares)		1,237,901
Issuance of shares (in shares)		3,287,667
End of period (in shares)		4,525,568
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Earnings per share - Weighted_2

Earnings per share - Weighted average number of ordinary shares (diluted) (Details) - shares	Jan. 01, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings per share [abstract]
Weighted average number of shares (basic) (in shares)	218,786,812	216,994,426	164,550,509	[1]
Effect of share-based payment arrangements (in shares)		0	84,164
Weighted average number of ordinary shares (diluted) (in shares)		216,994,426	164,634,673	[1]
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Interest-bearing loans and bo_3

Interest-bearing loans and borrowings - Schedule and maturity of borrowings (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	$ 1,708,168
New loans	270,323
Adoption IFRS 16 (Note 4)	105,238
Scheduled repayments	(70,559)
Early repayments	(367,350)
Other changes	1,908
Translation differences	(73)
Carrying amount of liability at the end of the period	1,647,655
More than 5 years
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	433,662
Carrying amount of liability at the end of the period	385,810
Between 1 and 5 years
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	1,135,969
Carrying amount of liability at the end of the period	1,121,505
More than 1 year
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	1,569,631
Carrying amount of liability at the end of the period	1,507,315
Less than 1 year
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	138,537
Carrying amount of liability at the end of the period	140,340
Bank loans
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	1,560,002
New loans	220,000
Scheduled repayments	(53,516)
Early repayments	(367,350)
Other changes	1,810
Carrying amount of liability at the end of the period	1,360,946
Bank loans | More than 5 years
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	433,662
Carrying amount of liability at the end of the period	383,083
Bank loans | Between 1 and 5 years
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	987,803
Carrying amount of liability at the end of the period	866,421
Bank loans | More than 1 year
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	1,421,465
Carrying amount of liability at the end of the period	1,249,504
Bank loans | Less than 1 year
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	138,537
Carrying amount of liability at the end of the period	111,442
Convertible and other Notes
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	148,166
New loans	50,000
Scheduled repayments	0
Early repayments	0
Other changes	98
Carrying amount of liability at the end of the period	198,264
Convertible and other Notes | More than 5 years
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	0
Carrying amount of liability at the end of the period	0
Convertible and other Notes | Between 1 and 5 years
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	148,166
Carrying amount of liability at the end of the period	198,264
Convertible and other Notes | More than 1 year
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	148,166
Carrying amount of liability at the end of the period	198,264
Convertible and other Notes | Less than 1 year
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	0
Carrying amount of liability at the end of the period	0
Lease liabilities
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	0
New loans	323
Adoption IFRS 16 (Note 4)	105,238
Scheduled repayments	(17,043)
Early repayments	0
Other changes	0
Translation differences	(73)
Carrying amount of liability at the end of the period	88,445
Lease liabilities | More than 5 years
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	0
Carrying amount of liability at the end of the period	2,727
Lease liabilities | Between 1 and 5 years
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	0
Carrying amount of liability at the end of the period	56,820
Lease liabilities | More than 1 year
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	0
Carrying amount of liability at the end of the period	59,547
Lease liabilities | Less than 1 year
Reconciliation of changes in borrowings [abstract]
Carrying amount of liability at the beginning of the period	0
Carrying amount of liability at the end of the period	$ 28,898

Interest-bearing loans and bo_4

Interest-bearing loans and borrowings - Terms and conditions of outstanding loans (Details) - USD ($)	Jun. 30, 2019	Jun. 27, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 1,647,655,000		$ 1,708,168,000
Secured vessels loan 192M
Disclosure of detailed information about borrowings [line items]
Face amount	192,000,000
Facility size	57,930,000		79,762,000
Outstanding	$ 57,930,000		79,762,000
Secured vessels loan 192M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	2.25%
Secured vessels loan 192M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 57,134,000		78,746,000
Secured vessels Revolving loan 148M
Disclosure of detailed information about borrowings [line items]
Face amount	148,000,000
Facility size	133,962,000		147,559,000
Outstanding	$ 20,000,000		105,000,000
Secured vessels Revolving loan 148M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	2.25%
Secured vessels Revolving loan 148M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 20,000,000		105,000,000
Secured vessels Revolving loan 750M
Disclosure of detailed information about borrowings [line items]
Face amount	750,000,000
Facility size	358,814,000		395,289,000
Outstanding	$ 190,000,000		165,000,000
Secured vessels Revolving loan 750M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	1.95%
Secured vessels Revolving loan 750M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 187,633,000		162,002,000
Secured vessels Revolving loan 409.5M
Disclosure of detailed information about borrowings [line items]
Face amount	409,500,000
Facility size	292,700,000		316,060,000
Outstanding	$ 85,000,000		150,000,000
Secured vessels Revolving loan 409.5M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	2.25%
Secured vessels Revolving loan 409.5M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 82,946,000		147,541,000
Secured vessels loan 27.1M
Disclosure of detailed information about borrowings [line items]
Face amount	27,100,000
Facility size	26,233,000		26,459,000
Outstanding	$ 26,233,000		26,459,000
Secured vessels loan 27.1M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	1.95%
Secured vessels loan 27.1M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 24,620,000		24,711,000
Secured vessels loan 81.4M
Disclosure of detailed information about borrowings [line items]
Face amount	81,400,000
Facility size	67,844,000		71,236,000
Outstanding	$ 67,844,000		71,236,000
Secured vessels loan 81.4M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	1.50%
Secured vessels loan 81.4M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 67,171,000		70,507,000
Secured vessels loan 69.4M
Disclosure of detailed information about borrowings [line items]
Face amount	69,400,000
Facility size	65,949,000		68,263,000
Outstanding	$ 65,949,000		68,263,000
Secured vessels loan 69.4M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	2.00%
Secured vessels loan 69.4M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 65,949,000		68,263,000
Secured vessels loan 104.2M
Disclosure of detailed information about borrowings [line items]
Face amount	104,200,000
Facility size	97,622,000		101,961,000
Outstanding	$ 97,622,000		101,961,000
Secured vessels loan 104.2M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	2.00%
Secured vessels loan 104.2M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 96,264,000		100,490,000
Secured vessels loan 89.7M
Disclosure of detailed information about borrowings [line items]
Face amount	89,700,000
Facility size	80,877,000		85,295,000
Outstanding	$ 80,877,000		85,295,000
Secured vessels loan 89.7M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	1.50%
Secured vessels loan 89.7M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 80,877,000		85,295,000
Secured vessels loan 221.4M
Disclosure of detailed information about borrowings [line items]
Face amount	221,400,000
Facility size	199,558,000		210,459,000
Outstanding	$ 199,558,000		210,459,000
Secured vessels loan 221.4M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	1.70%
Secured vessels loan 221.4M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 199,558,000		210,459,000
Secured vessels loan 126.8M
Disclosure of detailed information about borrowings [line items]
Face amount	126,800,000
Facility size	114,308,000		120,553,000
Outstanding	$ 114,308,000		120,553,000
Secured vessels loan 126.8M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	2.60%
Secured vessels loan 126.8M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 114,308,000		120,553,000
Secured vessels loan 195.7M
Disclosure of detailed information about borrowings [line items]
Face amount	195,700,000
Facility size	181,281,000		188,481,000
Outstanding	$ 181,281,000		188,481,000
Secured vessels loan 195.7M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	2.75%
Secured vessels loan 195.7M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 181,281,000		188,481,000
Secured vessels Revolving loan 200.0M
Disclosure of detailed information about borrowings [line items]
Face amount	200,000,000
Facility size	187,172,000		200,000,000
Outstanding	$ 145,000,000		200,000,000
Secured vessels Revolving loan 200.0M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	2.00%
Secured vessels Revolving loan 200.0M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 143,205,000		197,955,000
Secured vessels Revolving loan 100.0M
Disclosure of detailed information about borrowings [line items]
Face amount	100,000,000
Facility size	100,000,000	$ 100,000,000	0
Outstanding	$ 0		0
Secured vessels Revolving loan 100.0M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	2.10%
Secured vessels Revolving loan 100.0M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 0		0
Unsecured bank facility 60M
Disclosure of detailed information about borrowings [line items]
Face amount	60,000,000
Facility size	60,000,000		60,000,000
Outstanding	$ 40,000,000		0
Unsecured bank facility 60M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate	2.25%
Unsecured bank facility 60M | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 40,000,000		0
Total interest-bearing bank loans
Disclosure of detailed information about borrowings [line items]
Facility size	2,024,250,000		2,071,375,000
Outstanding	1,371,602,000		1,572,467,000
Total interest-bearing bank loans | Carrying value
Disclosure of detailed information about borrowings [line items]
Outstanding	$ 1,360,946,000		$ 1,560,002,000

Interest-bearing loans and bo_5

Interest-bearing loans and borrowings - Narrative (Details)	Jun. 14, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	[1]	Jun. 30, 2019EUR (€)	Jun. 27, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)	Oct. 01, 2018EUR (€)	Sep. 30, 2018EUR (€)	Jun. 06, 2017EUR (€)
Disclosure of detailed information about borrowings [line items]
Payments for debt issue costs		$ 181,000	$ 1,649,000
Secured vessels Revolving loan 100.0M
Disclosure of detailed information about borrowings [line items]
Facility size		100,000,000				$ 100,000,000	$ 0
Face amount		$ 100,000,000
Secured vessels Revolving loan 100.0M | LIBOR
Disclosure of detailed information about borrowings [line items]
Margin rate		2.10%			2.10%
Unsecured Note Due 2022 With Fixed Coupon Rate 7.50%
Disclosure of detailed information about borrowings [line items]
Face amount	$ 50,000,000	$ 200,000,000					150,000,000
Borrowings, interest rate	7.50%
Borrowings, premium	101.00%
Payments for debt issue costs	$ 175,000
Borrowings		$ 200,000,000					150,000,000
Unsecured Note Due 2022 With Fixed Coupon Rate 7.50% | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	7.50%	7.50%			7.50%
Treasury notes
Disclosure of detailed information about borrowings [line items]
Face amount		$ 14,000,000			€ 127,500,000		60,300,000	€ 52,700,000	€ 150,000,000	€ 50,000,000	€ 50,000,000
Borrowings		159,000,000
Treasury notes | Euro Interbank Offered Rate
Disclosure of detailed information about borrowings [line items]
Margin rate											0.60%
Carrying value | Unsecured Note Due 2022 With Fixed Coupon Rate 7.50%
Disclosure of detailed information about borrowings [line items]
Borrowings		198,264,000					$ 148,166,000
Carrying value | Treasury notes
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 1,800,000
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Interest-bearing loans and bo_6

Interest-bearing loans and borrowings - Other notes (Details) - USD ($)	Jun. 30, 2019	Jun. 14, 2019	Dec. 31, 2018
Unsecured Note Due 2022 With Fixed Coupon Rate 7.50%
Disclosure of detailed information about borrowings [line items]
Other notes, interest rate		7.50%
Face amount	$ 200,000,000	$ 50,000,000	$ 150,000,000
Other notes	$ 200,000,000		150,000,000
Unsecured Note Due 2022 With Fixed Coupon Rate 7.50% | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Other notes, interest rate	7.50%	7.50%
Unsecured Note Due 2022 With Fixed Coupon Rate 7.50% | Carrying value
Disclosure of detailed information about borrowings [line items]
Other notes	$ 198,264,000		148,166,000
Other borrowings
Disclosure of detailed information about borrowings [line items]
Face amount	200,000,000		150,000,000
Other notes	200,000,000		150,000,000
Other borrowings | Carrying value
Disclosure of detailed information about borrowings [line items]
Other notes	$ 198,264,000		$ 148,166,000

Trade and other payables (Detai

Trade and other payables (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018		Apr. 20, 2018
Subclassifications of assets, liabilities and equities [abstract]
Advances received on contracts in progress, between 1 and 5 years	$ 399	$ 402
Derivatives	3,546	1,049
Total non-current other payables	3,945	1,451	[1]
Trade payables	30,586	16,266
Accrued expenses	37,085	42,524
Accrued payroll	2,314	5,595
Dividends payable	129	146
Accrued interest	10,588	10,833
Deferred income	14,886	7,754
Other payables	7,611	4,107
Total current trade and other payables	103,199	$ 87,225	[1]
Interest rate swaps | Long term charter parties
Investment [Line Items]
Notional amount	$ 173,600			$ 86,800
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Financial instruments - Carryin

Financial instruments - Carrying amounts and fair values (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Interest rate swaps
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	$ 3,546	$ 1,049
Interest rate swaps | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Interest rate swaps | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	3,546	1,049
Interest rate swaps | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Secured bank loans
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	1,366,899	1,575,196
Secured bank loans | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Secured bank loans | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	1,366,899	1,575,196
Secured bank loans | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Unsecured notes
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	202,680	144,156
Unsecured notes | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	202,680	144,156
Unsecured notes | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Unsecured notes | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Unsecured other borrowings
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Unsecured other borrowings | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Unsecured other borrowings | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Unsecured other borrowings | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Lease liabilities
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	86,420
Lease liabilities | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0
Lease liabilities | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	86,420
Lease liabilities | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0
Trade and other payables
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Trade and other payables | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Trade and other payables | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Trade and other payables | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Advances received on contracts
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Advances received on contracts | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Advances received on contracts | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Advances received on contracts | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, liabilities	0	0
Forward exchange contracts
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	1,810	484
Forward exchange contracts | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Forward exchange contracts | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	1,810	484
Forward exchange contracts | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Interest rate swaps
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	382	7,205
Interest rate swaps | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Interest rate swaps | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	382	7,205
Interest rate swaps | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Forward cap contracts
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	157	725
Forward cap contracts | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Forward cap contracts | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	157	725
Forward cap contracts | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Commodity swap
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	1,781
Commodity swap | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0
Commodity swap | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	1,781
Commodity swap | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0
Non-current receivables
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	33,455	26,047
Non-current receivables | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Non-current receivables | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Non-current receivables | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	33,455	26,047
Trade and other receivables
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Trade and other receivables | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Trade and other receivables | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Trade and other receivables | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Cash and cash equivalents
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Cash and cash equivalents | Level 1
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Cash and cash equivalents | Level 2
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Cash and cash equivalents | Level 3
Disclosure of financial assets and liabilities [Line Items]
Fair value, assets	0	0
Financial liabilities at fair value
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, liabilities	3,546	1,049
Financial liabilities at fair value | Interest rate swaps
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, liabilities	3,546	1,049
Financial liabilities not measured at fair value
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, liabilities	1,895,154	1,848,354
Financial liabilities not measured at fair value | Secured bank loans
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, liabilities	1,360,946	1,560,002
Financial liabilities not measured at fair value | Unsecured notes
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, liabilities	198,264	148,166
Financial liabilities not measured at fair value | Unsecured other borrowings
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, liabilities	159,038	60,342
Financial liabilities not measured at fair value | Lease liabilities
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, liabilities	88,445
Financial liabilities not measured at fair value | Trade and other payables
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, liabilities	88,062	79,442
Financial liabilities not measured at fair value | Advances received on contracts
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, liabilities	399	402
Financial assets at fair value
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, assets	4,130	8,414
Financial assets at fair value | Forward exchange contracts
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, assets	1,810	484
Financial assets at fair value | Interest rate swaps
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, assets	382	7,205
Financial assets at fair value | Forward cap contracts
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, assets	157	725
Financial assets at fair value | Commodity swap
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, assets	1,781
Financial assets not measured at fair value
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, assets	466,036	467,047
Financial assets not measured at fair value | Non-current receivables
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, assets	37,736	30,728
Financial assets not measured at fair value | Trade and other receivables
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, assets	224,664	263,186
Financial assets not measured at fair value | Cash and cash equivalents
Disclosure of financial assets and liabilities [Line Items]
Carrying amount, assets	$ 203,636	$ 173,133

Financial instruments - Schedul

Financial instruments - Schedule and maturity of non-derivative liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [line items]
Derivatives	$ 3,546	$ 1,049
Liquidity risk
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	2,200,672	2,174,578
Derivative financial liabilities, undiscounted cash flows	2,155	2,627
Liquidity risk | Bank loans
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	1,856,565	2,034,794
Liquidity risk | Other borrowings
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	159,038	60,342
Liquidity risk | Lease liabilities
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	97,008	0
Liquidity risk | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	88,062	79,442
Liquidity risk | Interest rate swaps
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	2,155	2,627
Liquidity risk | Forward exchange contracts
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	0	0
Liquidity risk | Carrying Amount
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, liabilities	1,894,755	1,847,952
Derivatives	0	0
Liquidity risk | Carrying Amount | Bank loans
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, liabilities	1,559,210	1,708,168
Liquidity risk | Carrying Amount | Other borrowings
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, liabilities	159,038	60,342
Liquidity risk | Carrying Amount | Lease liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, liabilities	88,445	0
Liquidity risk | Carrying Amount | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, liabilities	88,062	79,442
Liquidity risk | Carrying Amount | Interest rate swaps
Disclosure of detailed information about financial instruments [line items]
Derivatives	0	0
Liquidity risk | Carrying Amount | Forward exchange contracts
Disclosure of detailed information about financial instruments [line items]
Derivatives	0	0
Liquidity risk | Less than 1 year
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	531,272	503,906
Derivative financial liabilities, undiscounted cash flows	412	461
Liquidity risk | Less than 1 year | Bank loans
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	220,461	364,122
Liquidity risk | Less than 1 year | Other borrowings
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	159,038	60,342
Liquidity risk | Less than 1 year | Lease liabilities
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	63,712	0
Liquidity risk | Less than 1 year | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	88,062	79,442
Liquidity risk | Less than 1 year | Interest rate swaps
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	412	461
Liquidity risk | Less than 1 year | Forward exchange contracts
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	0	0
Liquidity risk | Between 1 and 5 years
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	1,231,913	1,176,317
Derivative financial liabilities, undiscounted cash flows	1,553	1,628
Liquidity risk | Between 1 and 5 years | Bank loans
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	1,201,425	1,176,317
Liquidity risk | Between 1 and 5 years | Other borrowings
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0	0
Liquidity risk | Between 1 and 5 years | Lease liabilities
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	30,488	0
Liquidity risk | Between 1 and 5 years | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0	0
Liquidity risk | Between 1 and 5 years | Interest rate swaps
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	1,553	1,628
Liquidity risk | Between 1 and 5 years | Forward exchange contracts
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	0	0
Liquidity risk | More than five years
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	437,487	494,355
Derivative financial liabilities, undiscounted cash flows	191	538
Liquidity risk | More than five years | Bank loans
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	434,679	494,355
Liquidity risk | More than five years | Other borrowings
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0	0
Liquidity risk | More than five years | Lease liabilities
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	2,808	0
Liquidity risk | More than five years | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0	0
Liquidity risk | More than five years | Interest rate swaps
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	191	538
Liquidity risk | More than five years | Forward exchange contracts
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	$ 0	$ 0

Deferred tax assets and liabi_2

Deferred tax assets and liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Unused tax losses & tax credits
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	$ 356	$ 357.2
Deferred tax assets unlikely to be used
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	$ 84.5	$ 86.9

Non-current receivables (Detail

Non-current receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Subclassifications of assets, liabilities and equities [abstract]
Shareholders loans to joint ventures	$ 26,215	$ 28,665
Derivatives	539	7,930
Other non-current receivables	2,068	2,062
Lease receivables	9,452	0
Investment	1	1
Total non-current receivables	$ 38,275	$ 38,658	[1]
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Bunker inventory (Details)

Bunker inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Disclosure of inventories [Abstract]
Bunker inventory	$ 146,181	$ 0	[1]
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Trade and other receivables (De

Trade and other receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Subclassifications of assets, liabilities and equities [abstract]
Receivable from contracts with customers	$ 63,674	$ 64,923
Accrued income	15,590	17,765
Accrued interest	1,376	750
Deferred charges	18,487	39,734
Deferred fulfillment costs	0	2,140
Receivable from contracts with customers - TI Pool	122,429	161,737
Other receivables	16,714	18,677
Lease receivables	1,511	0
Derivatives	3,591	0
Total trade and other receivables	$ 243,372	$ 305,726	[1]
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Provisions and contingencies _2

Provisions and contingencies Provisions and contingencies (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Disclosure of other provisions [line items]
Beginning balance	$ 5,265
Adoption IFRS 16	(3,049)
Provisions used during the year	(325)
Ending balance	1,891
Non-current		$ 1,591	$ 4,288	[1]
Current		300
Total	5,265	1,891	5,265
Additions to right-of-use assets	87,900
Onerous contract
Disclosure of other provisions [line items]
Beginning balance	5,265
Adoption IFRS 16	(3,049)
Provisions used during the year	(325)
Ending balance	1,891
Non-current		1,591
Current		300
Total	5,265	$ 1,891	$ 5,265
Additions to right-of-use assets	$ 3,000
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Equity-accounted investees - In

Equity-accounted investees - Interests in total assets and liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Disclosure of Associates and Joint Ventures [Line Items]
TOTAL ASSETS	$ 40,457	$ 43,182	[1]
Joint ventures
Disclosure of Associates and Joint Ventures [Line Items]
TOTAL ASSETS	40,457	43,182
Associates
Disclosure of Associates and Joint Ventures [Line Items]
TOTAL ASSETS	$ 0	$ 0
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Equity-accounted investees - Re

Equity-accounted investees - Reconciliation of changes in interests in joint ventures (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2019	Dec. 31, 2018		Dec. 31, 2017
Disclosure of joint ventures [line items]
Carrying amount of interest at the beginning of the period	[1]	$ 43,182
Carrying amount of interest at the end of the period		40,457	$ 43,182	[1]
Joint ventures
Disclosure of joint ventures [line items]
Carrying amount of interest at the beginning of the period		43,182
Carrying amount of interest at the end of the period		40,457	43,182
Investments in equity accounted investees | Joint ventures
Disclosure of joint ventures [line items]
Gross balance		40,457	43,182		$ 27,565
Offset investment with shareholders loan		0	0		3,030
Carrying amount of interest at the beginning of the period		43,182	30,595
Group's share of profit (loss) for the period		7,660	16,076
Group's share of other comprehensive income		(1,034)	(459)
Movement shareholders loans to joint ventures		0	0
Dividends received from joint ventures		(9,350)
Carrying amount of interest at the end of the period		40,457	43,182
Shareholders loans | Joint ventures
Disclosure of joint ventures [line items]
Gross balance		26,216	28,666		162,763
Offset investment with shareholders loan		0	0		(3,030)
Carrying amount of interest at the beginning of the period		28,666	159,733
Group's share of profit (loss) for the period		0	0
Group's share of other comprehensive income		0	0
Movement shareholders loans to joint ventures		(2,450)	(134,097)
Dividends received from joint ventures		0
Carrying amount of interest at the end of the period		26,216	28,666
Investments in equity accounted investees | Joint ventures
Disclosure of joint ventures [line items]
Gross balance		0	0		0
Offset investment with shareholders loan		0	0		0
Carrying amount of interest at the beginning of the period		0	0
Group's share of profit (loss) for the period		0	0
Group's share of other comprehensive income		0	0
Movement shareholders loans to joint ventures		0	0
Dividends received from joint ventures		0
Carrying amount of interest at the end of the period		0	0
Shareholders loans | Joint ventures
Disclosure of joint ventures [line items]
Gross balance		0	0		0
Offset investment with shareholders loan		0	0		$ 0
Carrying amount of interest at the beginning of the period		0	0
Group's share of profit (loss) for the period		0	0
Group's share of other comprehensive income		0	0
Movement shareholders loans to joint ventures		0	0
Dividends received from joint ventures		0
Carrying amount of interest at the end of the period		$ 0	$ 0
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.

Equity-accounted investees - Na

Equity-accounted investees - Narrative (Details) - USD ($)	Jun. 27, 2019	Mar. 31, 2019	Mar. 29, 2018
Senior Secured Loans
Disclosure of joint ventures [line items]
Notional amount	$ 100,000,000	$ 220,000,000	$ 220,000,000

Subsequent events - Narrative (

Subsequent events - Narrative (Details)	Jul. 12, 2019USD ($)T	Aug. 28, 2019USD ($)vessel	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Non-current assets or disposal groups classified as held for sale			$ 23,212,000	$ 42,000,000	[1]
Vessels
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Non-current assets or disposal groups classified as held for sale			$ 23,212,000	$ 42,000,000
VLCC V.K. Eddie | Vessels
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
VLCC weight (in deadweight tons) | T	305,261
Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations	$ 38,000,000
Non-current assets or disposal groups classified as held for sale	23,200,000
Selling expense	400,000
Gains on disposals of property, plant and equipment	$ 14,400,000
Senior Secured Loan Due 2026 With Margin Rate At 1.95%
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Notional amount		$ 700,000,000
Number of vessels refinanced | vessel		13
Senior Secured Loan Facility
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Notional amount		$ 633,000,000
LIBOR | Senior Secured Loan Due 2026 With Margin Rate At 1.95%
Disclosure Of Assets And Liabilities Held For Sale [Line Items]
Borrowings, adjustment to interest rate basis		1.95%
[1]	The Group has initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.