Euronav orders two LNG-ready VLCCs

Photo: Euronav Ann-Euronav.jpg
Euronav VLCC Anne on sea trials
Euronav announced it has signed an order for two LNG-ready VLCCs at Hyundai Samho with an option for a third vessel.

The company said it was also working with the yard and class society to make the newbuilds ammonia-ready in a bid to further cut carbon emissions once the fuel is available for use.

The pair of ships will cost $186 mln including $4.2 mln in upgrades over the standard specifications, and will be delivered in Q4 2022 and Q1 2023, said Euronav. The optional third vessel will deliver in Q2 2023 if the option is picked up.

While the tanker orderbook is historically low, contracting from other segments had reduced yard availability, said Euronav.

Hugo De Stoop, Euronav CEO said “These ships are not only the latest generation of low consumption design but also have the option to be converted or retrofitted to use either LNG or Ammonia as a low emission fuel of the future. As there are no such alternatives in the second-hand market today, and with rising steel prices and constraints over yard capacity to 2024, we wanted to seize this opportunity to rejuvenate the fleet with two or three modern VLCCs that will replace older and less efficient ships that will leave our fleet around the same time of their delivery.”

TAGS: Shipbuilding
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