Anglo-Eastern Buys Euronav Ship Manager

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  • Hong Kong-based shipmanager Anglo-Eastern has sealed a deal to buy Euronav’s shipmanagement arm in Greece.
  • The deal for Euronav Ship Management Hellas will also see the duo join forces, with Anglo-Eastern assuming shipmanagement responsibilities for the tankers currently under Euronav’s management.

Euronav Ship Management Hellas’ managed vessels will be managed by Anglo-Eastern under a sale and purchase agreement, reads a news release from Anglo-Eastern.

Euronav and Anglo-Eastern join forces

Anglo-Eastern Univan Group and Euronav announced the Heads of Agreement for the sale of Euronav ship management arm Euronav Ship Management Hellas (“ESMH”), Euronav’s ship management arm. The HoA is subject to further documentation and final board of directors’ approval.

Anglo-Eastern will take ownership of the ship management responsibilities of vessels under ESMH management an on ‘as-is’ basis, the companies said. After the acquisition and integration, ESMH will become part of the Anglo-Eastern network, boosting the group’s presence in the Greek market and large crude tankers.

Bjorn Hojgaard, CEO of Anglo-Eastern, said the deal : “will enable both companies to focus on what they do best and reflects Euronav’s utmost confidence in Anglo-Eastern’s ability to deliver as a ship manager and wider initiatives related to safety, quality, digitalisation, crew training and decarbonisation”.

Alexander Saverys, CEO of CMB: “We are very happy to join forces with Anglo-Eastern. We already have a strong collaboration with Anglo-Eastern and this combination will further enhance our business relation, offering plenty of new opportunities for our company and our people.”

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Source: Anglo Eastern