Euronav Confirms to Be in Talks to Buy 4 VLCCs

Belgian tanker owner Euronav NV reacted to recent market speculations on its plan to buy up to eighteen tankers for USD 1.2 billion, confirming only that the company is currently in ”advanced talks” to buy four very large crude carriers (VLCCs).

Euronav was reported to be negotiating to buy eight VLCCs from Greece’s Metrostar Management for USD 98 million per vessel.

The company was also said to be interested in buying 10 Suezmax tankers from US-based Principal Maritime Tankers Corp. for around USD 480 million.

However, Euronav dismissed the speculations, saying that the company has not made an offer on the Principal Maritime Suezmax vessels.

If the deal for the four VLCCs is concluded, it would be funded from debt and existing liquidity available under revolving facilities, Euronav says.

World Maritime News Staff