Euronav now owns the only two ULCCs in the world tanker fleet

Euronav already owned the other ULCC in the global tanker fleet , the TI Europe (2002 – 442,470 dwt).

JUNE 29, 2018 — Antwerp, Belgium, headquartered Euronav Tankers NV (NYSE: EURN & Euronext: EURN) reports that it has acquired the ULCC Seaways Laura Lynn from Oceania Tanker Corporation, a subsidiary of International Seaways. Euronav has renamed the ULCC as Oceania and registered it under the Belgian flag.

Euronav Tankers bought the Seaways Laura Lynn (2003 – 441,561 dwt) from International Seaways for $32.5 million

Euronav already owned the other ULCC in the global tanker fleet , the TI Europe (2002 – 442,470 dwt).

Both ships were built by Daewoo Shipbuilding & Marine Engineering (DSME).

Paddy Rodgers, CEO of Euronav, said: “Bringing the only other ULCC in the world fleet under our control will provide us with a significant strategic opportunity.”

Euronav’s owned and operated fleet now consists of two ULCC, 43 VLCCs, 27 Suezmaxes (two under construction), two Panamaxes and two FSO vessels (both owned in 50%-50% joint venture).