Euronav buys two tankers for the spot market

Euronav buys stakes in two suezmax tanker vessels which will be used to seize an expected recovery in tanker rates. The ships are owned 50-50 in joint ventures with a competitor and a fund.

Photo: PR / Euronav

Euronav has acquired two tanker vessels in an effort to benefit from the strong winter market for crude oil transport.

Specifically, the Belgian tanker ship operator has bought stakes in two suezmax vessels through two joint ventures, with competitor Ridgebury Tankers and fund Tufton Oceanic. Ownership of the ships will be split 50-50.

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