Euronav now owns only two ULCCs in the world
Antwerp, Belgium - 29 June 2018
Euronav Tankers NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) announces that it has acquired the ULCC Seaways Laura Lynn from Oceania Tanker Corporation, a subsidiary of International Seaways. Euronav 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 USD. The Laura Lynn is the only other ULCC in the global tanker fleet – Euronav owns the other one, the TI Europe (2002 – 442,470 dwt).
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 is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav’s owned and operated fleet consists of 2 ULCC, 43 VLCCs, 27 Suezmaxes (two under construction), 2 Panamaxes and 2 FSO vessels (both owned in 50% - 50% joint venture). The Company’s vessels mainly fly Belgian, Greek, French and Marshall Island flags.
Euronav NV press release