Marine fuel is too cheap for the environmental damage that it causes and sea transport does not reflect the true cost of bringing goods to market. These are the views of Euronav’s forthright ceo, Paddy Rodgers, who recently surprised the shipping community when he revealed his plans to step down later this year.
Scrubbers have become flavour of the month for large vessel owners to comply with the 2020 sulphur cap, however, ensuring compliant operations could prove difficult with Euronav chief Paddy Rodgers drawing a parallel with the oil water separator record book issue in the US.
Euronav is now the owner of the world's only two ultra large crude carriers (ULCCs) - the biggest tankers in the world.
All of a sudden, there are deals in the air. The mood at the at last week's Marine Money 2018 conference, held over a span of three days, in New York was ebullient.
The announcement of Euronav’s all-share acquisition of Gener8 Maritime came after years of pounding the virtues of the C-word – consolidation - by Euronav’s ceo Paddy Rodgers.
Euronav is taking over Gener8 Maritime in an all stock merger creating a new giant in the large tanker sector.
Tanker owner Euronav says the delay in implementation of the IMO’s Ballast Water Management (BWM) Convention for all large tankers by two years will have little impact on the market.
Euronav have has ordered two ice-class suezmax newbuildings from Hyundai Heavy Industries (HHI) for time charters to Valero Energy.