Hugo De Stoop Archives - Maritime Shipping News

Tanker giants Frontline and Euronav to merge

7 April 2022

A tanker mega merger is in the works. Frontline Ltd, (NYSE: FRO) and Euronav (NYSE: EURN) have signed a term sheet agreeing a potential stock-for-stock combination of the two companies. Based on an exchange ratio of 1.45 FRO shares for every EURN share, it would resulting in Euronav shareholders owning approximately 59% of the combined group and Frontline shareholders owning 41%.

If the deal goes through, the combined group would continue under the name Frontline and would continue to operate...

https://www.marinelog.com/legal-safety/shipping/tanker-giants-frontline-and-euronav-to-merge/

Euronav enters ammonia-fueling JDP, orders 3 Suezmaxes

6 July 2021

Antwerp, Belgium, headquartered Euronav NV (NYSE: EURN & Euronext: EURN) reports that it is in a Joint Development Program (JDP) with the largest shipbuilder in the world, Hyundai Heavy Industries (HHI) and classification societies Lloyd’s Register and DNV, to help accelerate the development of dual fuel ammonia (NH3) fitted VLCC and Suezmax vessels. The initial term of the JDP will be three years.

“Shipping is entering an era of rapid technological developments and increasing environmental...

https://www.marinelog.com/shipping/euronav-enters-ammonia-fueling-jdp-orders-3-suezmaxes/

Euronav Entered Into Sale And Leaseback Agreement for VLCC

25 February 2021

Euronav announces that it has entered into a sale and leaseback agreement for the VLCC Newton (2009 – 307,284) with Taiping & Sinopec Financial Leasing Ltd Co. The vessel was sold for USD 36 million, reports CSN.

About The Transaction

The transaction produced a capital gain of about USD 2.4 million. After repayment of the existing debt, the transaction generated USD 19 million free cash. The vessels were delivered to their new owners on February 22th, 2021. Arctic acted as the sole financial...

https://mfame.guru/euronav-entered-into-sale-and-leaseback-agreement-for-vlcc/