Euronav pushes ahead with fleet optimisation and growth


CMB-controlled Euronav reports that it has sold the three VLCCs Nectar (2008 – 307,284 DWT), Newton (2009 – 307,208 DWT), and Noble (2008 – 307,284 DWT) in a move that reconfirms it and CMB.TECH’s strategy of “recycling capital at a historical high point in the tanker market”. The transaction will generate a capital gain of USD 83.5 million, it says.

Furthermore, Euronav has 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 24 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 six Newcastlemaxes are expected to be delivered during the course of 2024.

The company says that “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.”