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Euronav awards contracts for two VLCC newbuilds
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Tanker Operator Euronav orders two newbuild VLCCs and one option to add a third
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Euronav Orders Two Newbuild VLCCs And One Option To Add A Third
Euronav NV yesterday announced that it has entered into an agreement with the Hyundai Samho yard for two VLCC newbuilding contracts. Sourcing fleet renewal from the newbuilding market has primarily been driven by the aim of Euronav to be at the forefront of innovation in the energy transition and to drive projects with potential to decarbonize the transportation of oil.
The vessels will be LNG-ready and consequently there is an ability to cut CO2 emissions compared to current market standards. Furthermore, Euronav is working in cooperation with the yard and classification society to include an Ammonia-ready notation with the potential to reduce CO2 emissions to zero when technology, logistics and the regulatory framework allows for it. This should be defined by the end of the summer. In addition to being significantly more fuel efficient compared to the vessels they will replace, the newbuildings will also be fitted wi