Euronav Orders Suezmax Duo From DH

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  • Belgium-based independent oil shipping firm Euronav has entered into a shipbuilding deal with South Korea’s DH Shipbuilding.
  • Euronav said it expects to take delivery of the two new tankers in the third quarter of 2024.

Euronav places order for LNG-ready Suezmax duo in South Korea, reports LNG Prime.

Background

Euronav has entered into a shipbuilding deal with South Korea’s DH Shipbuilding for two LNG-ready Suezmax tankers.

The two vessels are expected to be sister ships to the 157,310-dwt Cedar and Cypress which will be both built and delivered in 2022 at the same yard.

Turkey’s Yasa Shipping originally placed the order in 2019 for these two vessels.

According to VesselsValue data, Euronav ordered these two Suezmax new builds in September and each vessel is worth $75 million.

Key details 

The vessels are the latest generation of eco-Suezmax tankers and are fitted with both exhaust gas scrubber technology and ballast water treatment systems, Euronav said. The vessels have the structural notation to be LNG-ready and both parties are working closely to have the structural notation to be ammonia and methanol-ready.

Views

“Sustained elevated contracting activity from other shipping segments has reduced available capacity to build crude tankers, at a time when the sector needs to replace maturing vessels with more environmentally-friendly designs.

With this contract, adding to the two Suezmaxes delivered earlier this year and three other Suezmax new buildings under construction, Euronav is tangibly driving innovation, investing in the energy transition, and showing agility in seizing another opportunity to further rejuvenate our Suezmax fleet,” De Stoop said.

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Source: LNG Prime

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