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Anglo-Eastern buys Euronav ship manager

Euronav Euronav Crew at work on deck
Euronav Ship Management Hellas’ managed vessels will be managed by Anglo-Eastern under a sale and purchase agreement.

Anglo-Eastern Univan Group and Euronav announced the Heads of Agreement for the sale of Euronav ship management arm Euronav Ship Management Hellas (“ESMH”), Euronav’s ship management arm.

The HoA is subject to further documentation and final board of directors’ approval.

Anglo-Eastern will take ownership of the ship management responsibilities of vessels under ESMH management an on ‘as-is’ basis, the companies said.

After the acquisition and integration, ESMH will become part of the Anglo-Eastern network, boosting the group’s presence in the Greek market and large crude tankers.

Bjorn Hojgaard, CEO of Anglo-Eastern, said the deal : “will enable both companies to focus on what they do best and reflects Euronav’s utmost confidence in Anglo-Eastern’s ability to deliver as a ship manager and wider initiatives related to safety, quality, digitalisation, crew training and decarbonisation”. 

Alexander Saverys, CEO of CMB: “We are very happy to join forces with Anglo-Eastern. We already have a strong collaboration with Anglo-Eastern and this combination will further enhance our business relation, offering plenty of new opportunities for our company and our people.”