Euronav NV has entered into a joint venture together with affiliates of Ridgebury Tankers and clients of Tufton Oceanic, the company said in its release. Each 50%-50% joint venture company has acquired one Suezmax vessel. Euronav will also provide financing for the joint ventures on commercially attractive terms.
The joint ventures have acquired the two Suezmax tankers for a total consideration of 40.6million USD with the vessels being delivered for the winter spot market 2019/2020 (one vessel delivered with immediate effect and one vessel expected to be delivered before the end of the month).
About Euronav
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav’s owned and operated fleet consists of 2 ULCCs, 42 VLCCs, 27 Suezmaxes (of which 2 owned in 50%-50% joint venture) and 2 FSO vessels (both owned in 50%-50% joint venture).