Euronav orders VLCCs at Hyundai Samho

Europe’s largest listed tanker company, Euronav, has ordered two VLCCs at Hyundai Samho Heavy Industries in South Korea, with an option for a third vessel. As the company pursues its aim of decarbonising the transport of oil by sea, the VLCCs will be designed and built as ‘LNG-ready’.

Euronav revealed that it will also work with the shipbuilder and classification society over the next few months to include an ammonia-ready notation. This will enable carbon emissions from the tankers to be cut to zero when technology, logistics and regulations allow.

The vessels will be significantly more fuel-efficient than those that they will replace. The company said that they will be fitted with scrubbers and ballast water treatment systems.

Hugo De Stoop, Euronav CEO, commented: “With this order, Euronav is tangibly driving innovation and investing in the energy transition. These ships are not only the latest generation of low consumption design but also have the option to be converted or retrofitted to use either LNG or ammonia as a low emission fuel of the future.

“As there are no such alternatives in the second-hand market today, and with rising steel prices and constraints over yard capacity to 2024,” he continued, “we wanted to seize this opportunity to rejuvenate the fleet with two or three modern VLCCs that will replace older and less efficient ships that will leave our fleet around the same time of their delivery.”