Tag: Euronav

Euronav has announced that it has entered into a five-year sale and leaseback agreement for four VLCC vessels with investment vehicles advised by Wafra Capital Partners Inc., a private equity partnership.

Euronav NV has announced the formation of a commercial joint venture with Diamond S Management LLC and Frontline Ltd. .The aim of the joint venture is to create a single point of contact for cargo owners to access a large fleet of 43 modern Suezmax vessels, including newbuildings, operated on the spot market. The joint venture will be named Suezmax Chartering.

Belgium’s tanker owner and operator Euronav NV has announced that it has agreed with Bretta Tanker Holdings Inc. to terminate its Suezmax joint venture.

On January 2014 Euronav announced the acquisition of fifteen Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore for a total acquisition price of USD 980 million. The executive committee of Euronav is pleased to announce that it has issued a USD 235 million 7-year bond to the same investors who participated in the capital increase of 13 January 2014 and it has signed a commitment letter

Euronav NV today announced that the company sold its oldest double-hulled VLCC Luxembourg (1999 - 299,150 dwt), for USD 28 million. The vessel is wholly owned by Euronav.

Euronav announced that it has entered into a contract to acquire fifteen (15) Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd for a total acquisition price of USD 980 million payable as the vessels are being delivered.

Euronav uses the Hull Inspection module on 11 of its ABS classed tankers Leading tanker owner Euronav is to role out ABS Nautical Systems software on tankers controlled by Euronav Ship Management (Hellas).Euronav selected ABS Nautical Systems as its asset management provider in 2009 and was the first adopter of the Hull Inspection module, which is a browser-based tool that helps track the structural condition of a vessel throughout its service life.Euronav currently uses the Hull Inspection module on 11 of its ABS classed tankers. However, given its successful use of the program to date, the company plans to continue expanding use of the programme to additional vessels."Prior to implementing Hull Inspection, we used hard-copy forms that made it difficult to organise, assess and identify conditions. Now, we are able to see the actual drawings of the vessel with improved visibility of hot spots and critical areas, such as in a cargo tank," said Theodore Mavraidis, fleet technical manager, Euronav."Hull Inspection also enables us to systematically examine and grade the hull structure of each vessel - providing fleet-wide statistics and trends. ABS Nautical Systems' Hull Inspection module is a breakthrough in the area of hull condition monitoring," he said."With Euronav ...

Euronav has delayed the deliver of two suexmax and one VLCC newbuilding Samsung Heavy Industries (SHI) has agreed to delay the delivery of three tanker newbuildings to Euronav until next year.Euronav has delayed the deliver of two suexmax and one VLCC newbuilding being built at SHI from the second half of this year to the first half 2012.The shipowner reported average spot earnings of just $22,000 a day in the second quarter for its VLCCs and $12,200 daily for suezmaxes.Source: Seatrade Asia