World News
Euronav Expands VLCC Fleet
Tanker firm Euronav has signed a deal to add up to two new VLCCs to its fleet.
The firm has agreed to buy one new VLCC, with the option to take a second within the next two months, it said in a statement on its website on Wednesday.
The vessel order cost $112.2 million, 'with highly favourable payment terms and schedule', the company said.
The first ship is due for delivery in the third quarter of 2026.
Global tanker demand has risen over the past two years with Western sanctions on Russia following the invasion of Ukraine meaning Russian oil exports have to move further to find new markets in Asia-Pacific, increasing tonne-mile demand.
Euronav has 41 VLCCs in its current owned and operated fleet, as well as one V-plus vessel, 22 Suezmaxes and two FSO vessels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
Popular Now More
-
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer. -
Nov 20The ISO 6853:2024 specifications, the first of their kind, cover the general requirements and properties for methanol specifically being used as marine fuel. -
Nov 21CTI-Maritec reports on undeclared quantities of cashew nut shell liquid found in VLSFO samples from Rotterdam and Singapore.