Euronav is looking to sell off more tankers after offloading a trio of VLCCs at relatively firm prices that were closely watched in the market.
As part of its fleet optimisation plan, the Saverys-controlled shipowner offloaded three Dalian-built VLCCs last week: the 308,000-dwt Nectar and Noble (both built 2008) and Newton (built 2009).
Saverys family tightens grip on Euronav as it buys up $73m in stock
Multiple broking sources quoted sales prices at $49.7m for the Nectar, while the Noble fetched $51.7m and the Newton $53.5m.
Brokers told TradeWinds the sales were above their expectations and are seen as relatively firm following a decline in the value of older tankers.
Unknown Chinese buyers have been mentioned as taking the three Euronav ships.
The trio was sold to Euronav by Maersk Tankers in 2014 at prices ranging from $56.8m for the Nectar and Noble to $61.2m for the Newton.
Euronav said the transaction would generate a capital gain of $83.5m.
Earlier in March, Delta Lines’ 299,900-dwt scrubber-fitted VLCC Achelous (built 2005) went for $30m to unknown interests, having last changed hands in 2022 at $35.5m.
However, brokers tell TradeWinds the Euronav deals are more reflective of the market, while specifics of the Achelous transaction contributed to what is seen as a softer price than present trends.
VLCC and three suezmaxes next on the block?
Euronav is understood to be seeking to sell four additional tankers as it has also been busy renewing its fleet with newbuildings.
The 306,500-dwt VLCC Dalma (built 2008) could be marketed at $51m to test the waters, with a dry-docking due in May.
VesselsValue assesses the ship as worth $48m.
Then there are three suezmaxes — the 150,000-dwt Sienna and Selena (both built 2007) and the Statia (built 2006).
Price estimates are said to be around $45m each, although VesselsValue suggests their value may range between $40m and $43m.
Euronav declined to comment.
In tandem with the VLCC sales, Euronav has ordered one VLCC and two newcastlemax bulker newbuildings at Qingdao Beihai Shipbuilding Heavy Industry.
The prices for the single crude tanker and the pair of 210,000-dwt bulkers were not disclosed.
Qingdao Beihai is scheduled to deliver all three ships during the first half of 2027.
