Euronav eyes ammonia-ready notation for eco-Suezmax pair

Belgium-based tanker company Euronav says it is ‘working closely’ with the builders of its two eco-Suezmax newbuildings to have an ammonia-ready structural notation.

The vessels, currently under construction at the Daehan Shipyard in South Korea, are being acquired for a total price of $113 million.

The tankers, which will also be fitted with exhaust gas cleaning systems, will have the structural notation to be LNG-ready. Euronav says an ammonia-ready structural notation would provide ‘the option to switch to other fuels at a later stage.’

Commenting, Hugo De Stoop, CEO, Euronav, said the current disruptions to the freight market have provided the opportunity to acquire the vessels while its ‘strong balance sheet’ allowed the company to act quickly.

‘This is in line with our strategy of acquiring good assets at attractive points in the cycle,’ said De Stoop.

Both vessels are due for delivery in January 2022.

Rhys Berry

Rhys Berry