Euronav sells Suezmax Cap Romuald
Euronav NV announced that the Company has sold the Suezmax Cap Romuald (1998 – 146,640 dwt) for USD 10.6 million.The vessel was delivered to her new owners on 22 August. The Company will record a capital gain of approximately USD 9 million in the current quarter.The sale of the Cap Romuald is part of a fleet rejuvenation program. Together with the sale Euronav is taking in operation four new Suezmax vessels, of which three (Cap Pembroke, Cap Quebec and Cap Port Arthur) have already been delivered, with the remaining one due for delivery at the end of August.Those 4 vessels will all go under seven year time charter contracts with a leading global refinery player.Euronav's fleet includes FSOs…
Frontline JV Creates Suezmax Vessel Fleet
Frontline Ltd. has announced the formation of Suezmax Chartering, a commercial joint venture with Diamond S. Shipping LLC and Euronav NV. The aim of the joint venture is to create a single point of contact for cargo owners to access a large fleet of 43 modern Suezmax vessels, traded operated on the spot market. Frontline will contribute 22 vessels to the joint venture, including 14 vessels on the water and 8 newbuildings as they are delivered. A larger fleet will provide more flexibility and more options for cargo owners and also reduce voyage related expenses. Suezmax Chartering will operate from the existing offices of Frontline, Diamond S and Euronav. Note: Suezmax is a crude tanker vessel carrying around 130,000 tonnes of crude. Reporting By Ole Petter Skonnord
Frontline, Diamond S. Shipping & Euronav Form Suezmax Chartering
Frontline Ltd. ("Frontline"), today announces the formation of Suezmax Chartering, a commercial joint venture with Diamond S. Shipping LLC and Euronav NV. The aim of the joint venture is to create a single point of contact for cargo owners to access a large fleet of 43 modern Suezmax vessels, traded operated on the spot market. Frontline will contribute 22 vessels to the joint venture, including 14 vessels on the water and 8 newbuildings as they are delivered. A larger fleet will provide more flexibility and more options for cargo owners and also reduce voyage related expenses by optimizing vessel selection based on proximity to cargoes, thereby reducing greenhouse gas emissions as a direct consequence of using less fuel for ballasting movements.
New Joint Venture for the Suezmax Market
Euronav NV has formed a commercial joint venture with Diamond S Management LLC and Frontline Ltd. with the aim of creating a single point of contact for cargo owners to access a fleet of 43 Suezmax vessels, including newbuildings, operated on the spot market. The joint venture, which will be named Suezmax Chartering, will commence operation June 2 from the existing offices of Euronav, Diamond S and Frontline Management AS. A larger fleet will provide more flexibility and more options for cargo owners…
