Euronav takes bitumen tanker plunge

NYSE and Euronext-listed Euronav said it had ordered two bitumen tankers with China Merchants Jinling Shipyard (Yangzhou). Delivery of the 17,000 dwt vessels is expected in Q4 2026 and the company said it had 10-year charter contracts with an undisclosed “strong counterparty”.

The newbuilds will have dual-fuel methanol propulsion and also be ammonia ready.

Since the takeover of Euronav by the Savery’s family and merger with CMB.TECH the company has set on a course of fleet diversification with an emphasis on decarbonised shipping operations.

Alexander Saverys, CEO Euronav: "With the new orders for two state-of-the-art and green newbuilding bitumen tankers, we continue to execute our strategy of diversification and decarbonisation of our fleet. In recent months, we have secured a total of 55 years of time charter cover thanks to the great support of top-class companies. This proves that our customers are ready to partner up with Euronav and CMB.TECH to develop future-proof solutions for the shipping industry.”

Including the bitumen tankers Euronav has a contract backlog of $1.98 billion.

The global fleet of bitumen tankers comprises 230 vessels with an average age of 15 years.