Belgium-based Euronav tanker owner is continuing to renew its fleet as it orders suezmax double and confirms another VLCC newbuilding.
The owner said it had lifted the option for one more VLCC at Qingdao Beihai, in China and ordered two suezmaxes at Daehan Shipbuilding in South Korea.
Euronav now has three VLCC’s on order at Qingqdao Beihai, following the ordering of two VLCC’s earlier in the year.
As the owner reveals today, the purchase price of the third ship is identical to the previous two.
The vessel is expected to be delivered in the fourth quarter of 2026 and will be ready to be powered by a dual-fuel diesel-ammonia engine.
Furthermore, Euronav has concluded two newbuilding ice classed suezmax orders at Daehan Shipbuilding, which have been long-term time chartered to Valero.
Delivery of these vessels is expected between April-May 2026 when each of the time charter contracts will begin.
Alexander Saverys, chief executive said: “We are very happy to extend our series of ammonia powered VLCC’s at Qingdao Beihai. We now have three state-of-the-art VLCC’s on order that are attractively priced and will deliver within 2026.”
“We are also delighted to extend our relationship with our long-standing customer Valero with an order of 2 new Suezmaxes that will enter long term time charters. These two transactions reflect the strength of the Euronav position in the tanker market and the rapid application of our new strategy. We look forward to updating you in detail on our strategy at our upcoming capital market day in Q1 2024,” he added.
Euronav’s owned and operated fleet consists of one V-Plus vessel, forty-one VLCCs, with a further three under construction, twenty-three suezmaxes, with a further five under construction, and two FSO vessels.