Image: Euronav
Euronav NV (NYSE: EURN & & Euronext: EURN) has actually participated in an arrangement to get a 4th resale VLCC newbuilding agreement.
Last month the vessel gigantic got to an arrangement to get 3 VLCCs, presently finishing building and construction at the DSME shipyard in South Korea for an accumulated acquisition rate of $280.5 million, or $93.5 million per ship.
This most recent purchase is likewise finishing building and construction at DSME and also like the various other 3 will certainly be fitted with exhaust gas scrubber modern technology and also a ballast water therapy system. The vessel schedules for distribution early in the initial quarter of 2021 and also is a similar sis ship of the 3 VLCCs gotten last month. However, Euronav is paying a little much less for it– $93 million not $93.5 million.
“Management and the board continue to believe that the fundamentals of the large tanker market remain constructive despite substantial headwinds surrounding economic activity linked to the coronavirus,” claimed Euronav Chief Executive Officer Hugo de Stoop, Chief Executive Officer. “We believe and hope these will be temporary albeit likely to impact tanker markets until the end of the summer 2020.”
Euronav claims the purchase follows its core business purposes with the vessel being an ex-yard resale, and also hence not including in existing vessel supply.
Euronav claims it will certainly satisfy the funding of this purchase with existing loaning centers and also financial obligation ability. The repayment account for the purchase suggests that the biggest section of the installations will certainly be made on ship distribution. Tel: +44
