Euronav, Partners Buy World’s Largest Tankers

Euronav, the tanker subsidiary of the CMB group, together with partners have reached an agreement for the acquisition of four double hull ‘V plus’ ships (also known as Ultra Large Crude Carriers) of 442,500 dwt. The vessels are: Hellespont Alhambra, Hellespont Tara, Hellespont Fairfax and Hellespont Metropolis. The ships will be delivered in the course of the months of May and June 2004 and will be renamed: TI Asia, TI Europe, TI America and TI Africa. The vessels will trade through the Tankers International pool. The vessels will be acquired by a Belgian company and will fly the Belgian Flag. The vessels were built at Daewoo Shipbuilding & Marine Engineering (DSME) between 2002 and 2003 and represent not only the largest double hull tankers afloat but the pinnacle in modern design and construction. The ‘V plus’ vessels represent the perfect complement to the fleet of the Tankers International pool which currently comprises of 46 VLCCs.