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.

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