Euronav orders two ice-class suezmaxes

Euronav orders two ice-class suezmaxes

Euronav has ordered two high specification ice class suezmax tankers from Hyundai Heavy Industries in South Korea.

The Belgian tanker ordered the ships on the back of securing two additional long-term time charter contracts of seven years each with Valero Energy starting in late 2018. Euronav stressed the new ships were ordered as replacement tonnage and are not adding to what it described as “speculative new capacity” to the global tanker fleet.

Euronav’s CEO Paddy Rodgers said: “By extending our strong partnership with a key customer, Euronav is also providing high quality and long duration earnings visibility for our stakeholders. Such fixed income capability provides Euronav with enhanced financial optionality as we move forward.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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