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Euronav takes up VLCC newbuild option

Photo: Euronav Tanker Ann Euronav from above
Euronav VLCC Anne on sea trials
Just days after Euronav announced the sale of 24 VLCCs to Frontline it has taken up an option on a VLCC newbuilding.

NYSE and Euronext-listed Euronav said it had agreed to lift an option for a second VLCC newbuilding for $112.2 million from an order placed in August. The newbuild is expected to be delivered in the third quarter of 2026.

Euronav contracted one plus one VLCC newbuildings at Behai Shipbuilding in August which are methanol ready and have space to be equipped with 6,000 cu metre methanol fuel tanks.

On Monday bringing to an end a long running battle for ownership of Euronav between John Fredriksen and the Saverys family the tanker company said it would be selling 24 VLCCs to Fredriksen’s Frontline. Euronav meanwhile set out future strategy to diversify its fleet and focus on “future proof” vessels with capabilities such as alternative fuels.