Tanker Owner Euronav Sets Record Straight on Reported $1.2 Billion Buying Spree

International crude oil tanker proprietor Euronav has set the file straight on market hypothesis that it’s planning a $1.2 billion tanker shopping for spree.

In an announcement late Thursday from the Antwerp-based firm, Euronav mentioned it is not going to touch upon market hypothesis, however confirmed that’s in superior talks to accumulate 5 VLCCs and it has not made any provide on different vessels.

The Wall Street Journal reported early Thursday that Euronav, the world’s largest listed crude-tanker operator, was set to purchase 18 tankers for round $1.2 billion. The spree included as much as 8 newbuild VLCCs from Greece’s Metrostar and 10 Suezmax tankers from Connecticut-based Principal Maritime Tankers Corp.

Euronav’s assertion mentioned that except the 4 VLCCs talked about above, the corporate has not made a suggestion on another vessels – particularly the Principal Maritime Suezmax vessels.

Euronav mentioned that if the deal for the 4 VLCCs concluded, that it could be funded from debt and current liquidity accessible underneath revolving amenities. The firm added that it’ll present additional replace when acceptable.

According to its web site, Euronav’s owned fleet includes 49 tankers, together with 26 VLCCs, 22 Suezmaxes and 1 “VPLUS” tanker, the TI Europe.

Euronav is listed on Euronext Brussels and on the NYSE underneath the image EURN.