Euronav adds two LNG-ready tankers to its fleet

Belgium-based independent oil shipping firm Euronav is expanding its fleet with two LNG-ready Suezmax newbuilds.

The company says it entered the acquisition through resale of the newbuilding contracts for an en-bloc price of $113 million.

Turkey’s Yasa Shipping originally placed the order in 2019 for the two 157,300 dwt vessels at South Korea’s Daehan Shipyard.

In addition, the Korean yard is finalizing the construction of the vessels and plans to deliver them in January 2022, according to Euronav.

Euronav says the vessels are the latest generation of Suezmax Eco-type tankers and will feature exhaust gas scrubber technology but also ballast water treatment systems.

Moreover, besides the LNG-ready notation, Euronav is working with the shipyard to
add the ammonia-ready structural notation.

Euronav chief Hugo De Stoop said the current disruptions to the freight market have “provided this opportunity and our strong balance sheet allowed us to act quickly on it.”

“This is in line with our strategy of acquiring good assets at attractive points in the cycle,” he said.

Euronav plans to use existing liquidity and will raise appropriate financing before the delivery of ships.

The firm’s owned and operated fleet consists of two V-Plus vessels, 45 VLCCs, 26 Suezmaxes and two FSO vessels.

- Advertisements -

Most Popular

Golar buys vessel for third FLNG project

Golar LNG has exercised its option to acquire the 148,000-cbm Moss-type carrier, Fuji LNG, which it aims to convert...

Australia’s Woodside investigating Pluto LNG incident

Australian LNG player Woodside has launched an investigation following an incident that took place on Friday at its Pluto...

Gas leak shuts Equinor’s Hammerfest LNG terminal

Norway's Equinor has closed its 4.3 mtpa Hammerfest LNG export plant due to a gas leak. "I can confirm that...

More News Like This

Euronav places order for LNG-ready Suezmax duo in South Korea

Belgium-based independent oil shipping firm Euronav has entered into a shipbuilding deal with South Korea’s DH Shipbuilding, previously known...

TEN orders four LNG-powered tankers at Daehan

Greek shipping firm Tsakos Energy Navigation (TEN) has ordered four LNG-powered Aframax tankers at South Korea's Daehan Shipbuilding. The contract,...

Euronav places order at Hyundai Samho for two LNG-ready VLCCs

Belgium-based independent oil shipping firm Euronav said Thursday it entered into a deal with South Korea's Hyundai Samho for...