Euronav buys two vessels ahead of challenging quarter

Crude oil carrier Euronav has acquired two VLCCs still under construction. This is a good time to buy, as asset values are low, says CEO Paddy Rogers in relation to the carrier's final interim report for the second quarter.

Photo: Euronav

In light of many carriers' limited access to capital, prices for new tanker vessels are currently low, and this makes it a good time to go shopping, notes CEO Paddy Rogers of tanker carrier Euronav.

In relation to the publication of the crude tanker carrier's finalized second quarter report, Euronav informs that it has acquired two Very Large Crude Carriers, VLCCs, which are currently being built at Hyundai Heavy Industries. The ships cost USD 84.5 million apiece.

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