Euronav orders two dual-fuel green methanol bitumen tankers in China

Belgian tanker shipping company Euronav has concluded an order for two dual-fuel bitumen tankers with Chinese shipbuilder China Merchants Jinling Shipyard (Yangzhou) Dingheng.

The vessels are expected to be delivered in the fourth quarter of 2026 and have been chartered to a ‘strong counterparty’ for ten years upon delivery from the shipyard, Euronav said.

As informed, the vessels will have dual-fuel green methanol engines that are ready to be retrofitted for future operation on ammonia.

Worldwide there are 230 bitumen tankers with an average age of fifteen years. The ordered vessels’ deadweight will be 17,000 tons, which is twice the 8,000-ton average of the existing fleet. Bitumen tankers are tankers that mainly carry asphalt at a temperature of 250 degrees.

The group also announced two time charter contracts with Valero in December 2023.

Earlier this month, Euronav secured approval for the acquisition of 100% shares in the UK-based cleantech maritime group CMB.TECH. Euronav and CMB.TECH together represent a group with around 150 ocean-going vessels (including newbuildings) in dry bulk, container shipping, chemical tankers, offshore wind and oil tankers. Euronav plans to change the group’s name to CMB.TECH.

In related news, CMB.TECH and Euronav recently announced the construction of the world’s first ammonia-fueled container ship in partnership with North Sea Container Line (NCL) and Yara. The 1,400 TEU ice-class containership will be built at Qingdao Yangfan Shipbuilding in China.

With the addition of the charters for the two new bitumen tanker charters, the total contract backlog of Euronav amounts to $1,975 million.

“With the new orders for two state-of-the-art and green newbuilding bitumen tankers, we continue to execute our strategy of diversification and decarbonisation of our fleet,” Alexander Saverys, CEO of Euronav, commented.

“In recent months, we have secured a total of 55 years of time charter cover thanks to the great support of top-class companies. This proves that our customers are ready to partner up with Euronav and CMB.TECH to develop future-proof solutions for the shipping industry. We will continue to develop innovative low carbon solutions for our customers and will accelerate our investments in the maritime energy transition. Decarbonise today, navigate tomorrow!”