Euronav acquires another resale VLCC

Belgian tanker owner Euronav has entered into an agreement for the acquisition of a resale VLCC newbuilding.

The tanker, which will be fitted with a scrubber and ballast water treatment system, is under construction at DSME in South Korea.

The purchase price for the vessel is $93m, and the vessel is due for delivery early in the first quarter of 202. It is a sister ship of the three VLCCs acquired by Euronav last month, with all the four vessels originally ordered by South Korea’s Sinokor.

“Management and the board continue to believe that the fundamentals of the large tanker market remain constructive despite substantial headwinds surrounding economic activity linked to the Corona Virus. We believe and hope these will be temporary albeit likely to impact tanker markets until the end of the summer 2020,” said Hugo de Stoop, CEO of Euronav.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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