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Euronav buys another scrubber-fitted resale VLCC newbuild

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Belgium-based Euronav has inked an agreement to make a resale purchase of a scrubber-fitted VLCC newbuilding at a price of $93m.

The VLCC is currently completing its construction at South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) and will be fitted with an exhaust gas cleaning system and ballast water treatment system.

The latest deal will be Euronav’s fourth VLCC newbuilding fitted with scrubbers, following an earlier acquisition of three similar resale units in February.

“Management and the board continue to believe that the fundamentals of the large tanker market remain constructive despite substantial headwinds surrounding economic activity linked to the coronavirus,” said Hugo de Stoop, ceo of Euronav.

“We believe and hope these will be temporary albeit likely to impact tanker markets until the end of the summer 2020,” he added.

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