March 26th, 20200Belgian offshore marine engineering company DEME and Japanese marine contractor Penta-Ocean Construction have entered into a memorandum of understanding (MOU) to collaborate on the construction of offshore wind farms in Japan. According to DEME, the development of offshore wind projects has gained considerable momentum throughout...
March 24th, 20200London-based alternative investment manager Marshall Wace has been revealed as a shareholder of Belgian tanker giant Euronav, having being announced as an major shareholder by crossing the 5% shareholder threshold. "Following the acquisition of voting securities or voting rights on 13 March 2020, Marshall Wace Ltd. now holds 5.09% of...
March 18th, 20200With the price of oil super cheap, trading house Glencore is reported by Reuters, to have taken one of the world’s only two existing ultra large crude carriers (ULCCs) on a six-month charter to use the ship for floating storage purposes. The 440,000 dwt has been taken by Glencore for $37,000 a day, although officials at the trading...
March 6th, 20200Belgian 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...
February 25th, 20200Belgium-based tanker owner Euronav has announced the sale of its 2003-built 150,000 dwt suezmax tanker for a price of $21.8m. The latest ship registration information shows the vessel has been renamed Aldus, although the identity of the new owner remains unknown. Euronav said it considers regular fleet rejuvenation an important...
February 13th, 20200Arguably no sector in shipping is more constantly on a knife edge than the VLCC sector, a segment prone to extremely rapid swings in earnings. A safe pair of hands is what is needed to navigate the supertanker seas and in Hugo De Stoop, Euronav has the right person for the job. A 15-year veteran at the Antwerp company, De Stoop stepped...
February 12th, 20200Belgian tanker owner Euronav has entered into an agreement for the acquisition of three resale VLCC newbuildings, currently completing construction at DSME in South Korea. The total purchase price for the three vessels is $280.5m All three vessels will be fitted with scrubbers and ballast water treatment systems and are expected to...
January 30th, 20200For the tanker bulls, the eagerly anticipated Q4 results from Antwerp’s Euronav did not disappoint this morning. The Belgian tanker giant posted a stunning $160.8m net profit for the final quarter of 2019, up by 57,534% from the $279,000 profit it eked out in the same quarter of 2018. Moreover, Q1 looks like it will deliver...
January 27th, 20203Pioneering Compagnie Maritime Belge (CMB), which turned 125 on Friday, is set to become the first shipping line in the world to be net zero. CMB has announced all its carbon emissions will be offset starting this year, and long term the company, a leader in hydrogen propulsion, has pledged to invest in new technologies to operate a...
January 20th, 20200Taiwanese shipbuilder CSBC has announced the company and its offshore joint venture partner DEME will replenish capital into CSBC-DEME Wind Engineering to support the construction of a heavylift vessel. The joint venture is expected to make an investment of TWD1.05bn ($35m) by April for the vessel, which will be used for offshore...
