Belgian tanker giant Euronav has returned to Qingdao Beihai Shipbuilding for more VLCC newbuilds.
The Saverys family-controlled company has signed for one 319,000 dwt ammonia-ready unit at the CSSC yard for delivery in April 2027, according to Clarksons.
The deal that lifts Euronav’s VLCC orderbook at Beihai to four comes with options for two more ships.
The Antwerp-based dual-listed owner led by Alexander Saverys (pictured) is set to combine with Compagnie Maritime Belge’s cleantech division, CMB.TECH, in a $1.15bn cash deal. Saverys recently outlined plans for how Euronav should move forward after a long takeover battle with Frontline, which includes about 120 hydrogen and ammonia-powered newbuilds across different shipping segments.
In September 2023, Dalian Shipbuilding Industry Co (DSIC) received an order for one 306,000 dtw methanol dual-fuel VLCC from China Merchants Energy Shipping. The ship should deliver by the end of 2025 and is the world’s first in this segment set to run on methanol.
In its recent report, New York broker Poten & Partners noted that the VLCC orderbook was at a near historical low of 23 ships, or 2.6% of the trading fleet, as of January. Still, they forecasted this number to more than double this year.
Clarksons data shows that the current price for a VLCC newbuild is about $128m. Shipbuilding sources following industry majors Evangelos Marinakis, John Fredriksen and Kjell Inge Røkke, among others, had already reported the trio signing up for opened-up yard slots in China and South Korea, respectively, on the back of a slowdown in boxship and LNG orders.
