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 | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
Popular Now More
-
Oct 02The new hire was previously managing director of bunker trading firm Sing Fuels from March 2018 to this month. -
Oct 03The new hire was previously managing partner of Island Gulf Energy in Dubai from July 2016 to last month. -
Oct 02The new hire was previously a bunker trader for marine fuel trading firm Pacific Bunkers in Singapore from July 2012 to last month.