Euronav sold 3 VLCCs and places order for 2 tankers and 1 VLCC in Beihai Shipyard

photo from Euronav website

Euronav has sold the VLCC Nectar (2008 – 307,284 DWT), VLCC Newton (2009 – 307,208 DWT), and VLCC Noble (2008 – 307,284 DWT). This sale reconfirms Euronav & CMB.TECH’s strategy of recycling capital at a historical high point in the tanker market. This transaction will generate a capital gain of USD 83,5 million.

Furthermore, Euronav concluded an order for two Newcastlemaxes and one additional VLCC at Qingdao Beihai Shipyard (China). The vessels are expected to be delivered in Q1 and Q2 2027. Euronav & CMB.TECH now have five VLCCs and still twenty-four Newcastlemaxes on order at Qingdao Beihai Shipyard. All of these will be ammonia ready/fitted.
 

On 18 March, Euronav & CMB.TECH took delivery of the fourth super-eco Newcastlemax Mineral France (2024 – 210,000 DWT). This brings Euronav & CMB.TECH’s Newcastlemax fleet to four vessels on the water all trading spot in a highly supportive dry-bulk freight environment. Another 6 Newcastlemaxes are expected to be delivered during the course of 2024.
 

These recent transactions once again demonstrate that Euronav & CMB.TECH are going full steam ahead with the ambition to grow and to become the benchmark in sustainable shipping.

source: Euronav

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