For the realization of a long-term charter[ds_preview] agreement, the New York- and Euronext-listed tanker company Euronav has placed a new building order at Hyundai Heavy Industries (HHI).
The shipowner announced today that it has signed two time charter
contracts of seven years each with Valero Energy Inc. for Suezmax vessels with
specialised Ice Class 1C capability starting in 2018.
»In order to fulfil this contract, Euronav has ordered two vessels from Hyundai Heavy Industries shipyard in South Korea. Additional specifications for these vessels include substantially increased steel structure, specific emissions controls and other bespoke operational capabilities«, Euronav stated.
Delivery of these vessels is expected in early 2018 when each of the time charter contracts will begin. Obviously there have been long negotiations around the order. »Over many months of price discovery, management believes that the Company has secured an excellent price for two high specification vessels in line with its policy of not adding net new capacity to the global tanker fleet«, the company added. CEO Paddy Rodgers said: »Euronav and its predecessors have been serving the Quebec refinery with purpose built new buildings since 1998. In a world of continuous change our commitment to serve our customer remains a constant point«.
