Euronav orders ammonia-ready vessels, as it offloads three VLCCs

Belgium-based shipping company Euronav has placed an order for one ammonia-ready tanker and two Newcastlemax bulk carriers at China’s Qingdao Beihai Shipyard.

Illustration; Image credit Euronav

As informed, the company decided to further push its fleet optimization and growth with new purchases. Three newbuilds, a very large crude carrier (VLCC) and two bulkers, will be ammonia-ready/fitted. The vessels are expected to be delivered in Q1 and Q2 2027.

In January this year, Euronav decided to order the fourth ammonia-ready VLCC at Qingdao Beihai shipyard. The shipowner now has five VLCCs and twenty-four Newcastlemaxes on order at the Chinese shipyard.

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In addition to the new orders, Euronavhas made another move in its fleet renewal drive by selling three VLLCs. The ships in question are VLCC Nectar and VLCC Noble, built in 2008, and VLCC Newton, built in 2009.

Furthermore, the Belgium-based shipping company welcomed the fourth super-eco Newcastlemax Mineral France on March 18. This brings Euronav’s Newcastlemax fleet to four vessels on the water, all trading spots in the dry-bulk freight environment. Another six Newcastlemaxes are expected to be delivered during the course of 2024.

The latest fleet optimization developments are being announced as Euronav enters a new chapter in its transformation following the split with Frontline and the share acquisition by CMB.TECH, which now owns more than 53% of the company. Alexander Saverys, Chief Executive Officer of the CMB Group, has been named as Euronav’s CEO.  

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In January this year, Saverys revealed its plans to add approximately 120 hydrogen and ammonia-powered vessels to its fleet and has five hydrogen infrastructure projects worldwide in the pipeline.

CMB.TECH aspires to be the global reference in sustainable shipping and envisions a future where hydrogen powers small vessels, while ammonia is the energy source for larger ships. The focus is also being put on powering green marine value chains, including hydrogen and ammonia production infrastructure.

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