Euronav acquires 15 VLCCs from Maersk Tankers Singapore

  • Belgian crude oil shipper agrees US$980 million contract

Belgian-based shipping group Euronav has announced the acquisition of 15 Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd for a total of US$980 million.

The vessels, to be paid for on delivery, will increase Euronav’s VLCC tanker fleet to 26. Each tanker has an average age of four years and will be operated in the Tankers International VLCC Pool of which Euronav is a founding member.

Each vessel will be sold under the industry standard sale form as a stand- alone asset with deliveries taking place between late January and June with the exception of one vessel currently under charter, which will be delivered towards the end of the year.

In a statement, Euronav considers the acquisition as a first step towards a wider consolidation of the world tanker fleet, with the concurrent benefits of synergy and logistical enhancement to the benefit of all stakeholders

Euronav NV was advised on the acquisition by RMK Maritime, an independent maritime advisory firm based in London and New York.

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