Euronav entered into a contract to acquire 15 very large crude carriers (VLCC) from Maersk Tankers Singapore for a total price of USD 980M payable as the vessels are being delivered. The vessels, with an average age of 4 years, will expand the large tanker fleet of Euronav that consists of 1 ULCC, 11 VLCCs and 23 Suezmaxes. The vessels will be operated in the Tankers International VLCC Pool.
Each vessel will be sold under the industry-standard sale form as a stand-alone asset. The vessels would be delivered between late January and June with the exception of one vessel currently under charter, which will be delivered towards the end of the year.
Euronav considers the acquisition as a first step towards a wider consolidation of the world tanker fleet, with the concurrent benefits of synergy and logistical enhancement to the benefit of all stakeholders. Euronav NV was advised on the acquisition by RMK Maritime, an independent maritime advisory firm based in London and New York.