Euronav is continuing to renew its fleet following the sale of 24 modern VLCCs to Frontline.

The New York and Brussels-listed owner said it had lifted an option for a third new 319,000-dwt VLCC at the Qingdao Beihai yard in China and ordered two suezmaxes at Daehan Shipbuilding in South Korea.

TradeWinds reported the VLCC deal this week, but it was unclear whether this was a new order for Euronav or the purchase of a resale from the owning Saverys family’s Compagnie Maritime Belge (CMB).

The latter now looks to be the case after two VLCCs were bought from CMB at Qingdao Beihai earlier this year.

The price is the same as the other two: $112.2m.

The latest tanker is expected to be delivered in the final three months of 2026 and will be ready to run on diesel and ammonia.

The two suezmaxes are due in April and May 2026.

The ice-class ships have been time-chartered to Valero over an unspecified long term.

Euronav already has 2m-barrel tankers on order at Daehan for handover next year, plus another due in January from Hyundai Samho in South Korea.

Chief executive Alexander Saverys said: “We now have three state-of-the-art VLCCs on order that are attractively priced and will deliver within 2026.

Strong position in tanker market

“We are also delighted to extend our relationship with our long-standing customer Valero. These two transactions reflect the strength of the Euronav position in the tanker market and the rapid application of our new strategy.”

The VLCC design is by CSIC Ship Design & Research Center.

The 339.5-metre tankers will meet the Energy Efficiency Design Index III standards and will each be equipped with two 6,000-cbm ammonia fuel storage tanks.

In October, the Saverys family took control of Euronav after CMB bought out John Fredriksen-controlled Frontline’s holding with the sale of 24 modern VLCCs for $2.35bn.