World News
Euronav Buys Another Scrubber-Equipped VLCC
Belgian shipping company Euronav has bought its fourth scrubber-equipped very large crude carrier (VLCC), the company said Friday.
The company bought the ship, currently under construction at the DSME shipyard in South Korea, for $93 million, it said in a statement on its website.
The ship is due for delivery early in the first quarter of 2021.
"Management and the board continue to believe that the fundamentals of the large tanker market remain constructive despite substantial headwinds surrounding economic activity linked to the coronavirus," Hugo de Stoop, CEO of Euronav, said in the statement.
"We believe and hope these will be temporary albeit likely to impact tanker markets until the end of the summer 2020."
Euronav's purchase of three scrubber-equipped VLCCs last month market the end of its longstanding opposition to the emissions-cleaning equipment.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 655.50 | 2.00 | 808.50 | 4.50 |
| Rotterdam | 619.00 | 0.00 | 789.00 | 8.00 |
| Houston | 628.50 | 7.50 | 812.50 | 1.50 |
| Fujairah | 653.50 | 4.50 | 900.00 | 2.50 |
| Global 20 Ports Average | 672.00 | 0.50 | 885.00 | 7.00 |
| Global 4 Ports Average | 639.00 | 2.50 | 827.50 | 2.00 |
| Global Average Bunker Price | 727.50 | 1.50 | 933.50 | 5.00 |
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