Tag: Euronav

Antwerp-based crude oil tanker operator Euronav NV announced that its subsidiary Euronav Luxembourg has sold the Very Large Crude Carrier (VLCC) 'VK Eddie', as part of its regular fleet rejuvenation. The vessel will be converted into an FPSO and therefore will leave the worldwide trading fleet.

Antwerp-based crude oil tanker company Euronav announced that its current CFO Hugo De Stoop will succeed Paddy Rodgers as CEO of the company in the course of the second quarter of this year. The Company has now started a search for a new CFO.

Euronav has chartered a tanker to bring a 30,000 tonne cargo of low-sulphur fuel oil from northwest Europe to Malta, where its megatanker, Oceania, is located since January 12. The tanker loaded the low-sulphur fuel from Antwerp and is expected to reach Malta on March 20, Then it will probably transfer the fuel onto the ultra large crude carrier via ship-to-ship operation.

Euronav will use one of its two ultra large crude carriers (ULCC) to store low-sulphur marine fuel ahead of the 2020 sulphur cap regulation. ULCCs can carry up to 400,000 tonnes of fuel oil, and this specific ULCC, 'Oceania', has been off Malta since January 12. Euronav stated that the use of the ULCC is just one of its IMO 2020 initiatives, which aim to give emphasis on the quality and quantity of compliant fuel supply.

Euronav highlights its strong 2019 start in the maritime industry and its support to the IMO 2020 regulations. The key options on the table to becoming compliant are scrubbers and compliant fuels, including low-sulphur fuel and alternative marine fuels such as LNG, LPG or even methanol.

Euronav stated it has 3 areas of concern when considering scrubber installation on its fleet. These concern the capital investment, the risk of pollution and the implementation and enforcement regime. Namely, it believes that scrubbers are a loop hole which makes enforcement of the sulphur ban extremely complex.

In the 2018 Business-IT Excellence Awards ceremony that took place on June 13, Propulsion Analytics and Euronav received the Gold Award in the category "Specialized solutions for companies in the Maritime Industry". The joint nomination except from the Gold Award, was also granted a top distinction.

The Boards of Euronav and Gener8 Maritime announced that they have reached an agreement on a merger for the entire share capital of Gener8, which will become a whollyowned subsidiary of Euronav.

Danish Maritime Forum, which is considered as the “Davos of the maritime industry” has been renamed as 'Global Maritime Forum', becoming a new global platform to better contribute to a positive long term change for the industry and for society. Fourteen global and prominent industry leaders are backing the Forum which aims to serve as a broader platform for dialogue and collaboration to increase sustainable long term economic development and human wellbeing.

Euronav ship management announced that contracted SMIT Singapore Pte Ltd. and PT Samudera Indonesia, to undertake the refloating operation of its M/T ALEX crude oil tanker, which was involved in a grounding incident occurred on April 12th.