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Euronav buys another scrubber-fitted resale VLCC newbuildEuronav buys another scrubber-fitted resale VLCC newbuild

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

Lee Hong Liang, Asia Correspondent

March 6, 2020

1 Min Read
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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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About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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