Belgium’s Euronav has injected cash into its VLCC management subsidiary after a difficult 2021.

Accounts for Euronav Luxembourg posted to the Oslo stock exchange show a loss for last year of $15.3m in weak markets, compared with earnings of $1.7m in 2020.

This was blamed mainly on the 307,300-dwt VLCC Newton (built 2009), which was operated in the spot market through a time charter to the Tankers International pool.