Euronav Plans for 120 Low-Carbon Ships Under New CEO Saverys

The ocean
Updated Published

Plans are being drawn up for 120 low-carbon ship orders by the new-look Euronav. Alexander Saverys, recently appointed CEO of the tanker giant following a protracted takeover battle, discussed how he views the Euronav fleet evolving in the coming years, speaking at a Capital markets day on Friday. This transition is bolstered by the acquisition of clean tech firm, CMB.TECH. 

Saverys announces that the 120 newbuilds will include container vessels, dry bulk carriers, and tankers. 

Euronav was officially under the leadership of the Saverys family-controlled Compagnie Maritime Belge (CMB) from November, with John Fredrikson selling his stake in the tanker giant in return for 24 Euronav VLCCs.

CMB wishes to diversify Euronav’s current fleet into the different shipping segments. They aim to decrease the dependence on transporting crude oil as their primary source of business. 

However, this doesn’t require them to leave the tanker business altogether, stresses CMB, but rather a gradual decrease of revenue shares coming from pure crude oil transportation whilst simultaneously adding in diverse, future-proof shipping asset types to their portfolio, potentially from CMB and CMB.TECH fleets. 

For CMB, future-proof means an efficient, low-carbon emitting fleet powered by hydrogen or ammonia.