By Jessica Jaganathan SINGAPORE, April 25 (Reuters) - The tanker market may face a "difficult" second and third quarter this year after a robust first quarter as supply of newly built vessels loom, Belgian oil tanker operator Euronav said on Tuesday. "The rates today are not the same as what we have seen in previous quarters," Chief Executive Paddy Rodgers told Reuters on … [Read more...]
Very Large Crude Carrier Aground in Java Sea
A very large crude carrier belonging to Belgian tanker company Euronav ran aground Wednesday while carrying a cargo of crude oil through the Java Sea, but the ship manager says the vessel is in good condition even as it remains stuck in the mud. Euronav Ship Management confirmed Thursday that their 299,446 dwt VLCC Alex was involved in a grounding incident on … [Read more...]
Tanker Owner Euronav Sets Record Straight on Reported $1.2 Billion Buying Spree
International crude oil tanker owner Euronav has set the record straight on market speculation that it is planning a $1.2 billion tanker buying spree. In a statement late Thursday from the Antwerp-based company, Euronav said it will not comment on market speculation, but confirmed that is in advanced talks to acquire five VLCCs and it has not made any … [Read more...]
Euronav Launches $175 Million IPO in U.S.
BRUSSELS (Reuters) - Belgian crude oil shipping group Euronav said on Tuesday that it was going ahead with its plan to list shares on the New York Stock Exchange in a public offering worth some $175 million. Euronav had announced its intention to list in September but postponed the plans in October, citing unfavourable market conditions. The company said on Tuesday that … [Read more...]
Euronav to Raise $175 Million with New York Listing
BRUSSELS, Jan 20 (Reuters) - Belgian crude oil shipping group Euronav said on Tuesday that it was going ahead with its plan to list shares on the New York Stock Exchange in a public offering worth some $175 million. Euronav had announced its intention to list in September but postponed the plans in October, citing unfavourable market conditions. The company said on … [Read more...]
Chinese Oil Trader Books Ultra-Large Crude Carrier ‘TI EUROPE’ to Stash Crude
By David Sheppard and Ron Bousso LONDON, Sept 8 (Reuters) - A Chinese trading firm has booked the world's largest super-tanker to store crude at sea, adding to a growing flotilla of vessels used for floating storage as benchmark oil prices slip below $100 a barrel. Industry sources said Chinese firm Unipec, the marketing arm of Beijing-backed oil giant Sinopec, has booked … [Read more...]
Sembcorp Marine to Convert Euronav VLCCs for Kaombo Project
Three months after winning the $4 billion project to supply and operate a pair of FPSOs offshore Angola for Total, Saipem has selected Sembcorp Marine's Sembawang Shipyard to undertake the S$600 million (USD $483.2 million) project to convert two ~315,000 ton deadweight Very Large Crude Carriers (VLCCs) into two turret-moored FPSOs. The Olympia and Antarctica are currently … [Read more...]