Euronav, the erstwhile traditional tanker operator, is undergoing a comprehensive transformation as the Saverys family spearheads diversification by ordering bitumen tankers. This strategic move follows closely on the heels of the recently completed merger of Euronav and CMB.TECH, signaling the company’s unwavering commitment to establishing itself as a benchmark in sustainable shipping through diversification, optimization, and decarbonization.
Bitumen tankers, designed to transport asphalt at a scorching 250 degrees, are at the forefront of Euronav’s diversification plan. The company has already secured a decade-long charter for the two upcoming tankers, slated for delivery in the fourth quarter of 2026. Euronav points out that globally there are 230 bitumen tankers, with an average age of 15 years, presenting a robust market opportunity.
The contract for the two bitumen tankers was inked with China Merchants Jinling Shipyard (Yangzhou) Dingheng Co. Euronav emphasizes that these vessels will boast a deadweight of 17,000 tons, doubling the existing fleet’s 8,000-ton average. Aligned with the Saverys’ vision, these vessels will be equipped with dual-fuel green methanol engines, ready for potential retrofitting for future operations on ammonia.
Alexander Saverys, CEO of Euronav, remarked, “With the new orders for two state-of-the-art and green newbuilding bitumen tankers, we continue to execute our strategy of diversification and decarbonization of our fleet. We will continue to develop innovative low-carbon solutions for our customers and will accelerate our investments in the maritime energy transition. Decarbonize today, navigate tomorrow!”
Following the completion of the acquisition of CMB.TECH from CMB NV on February 8, with a total cash purchase price of $1.150 billion, the combined group, now boasting approximately 150 ocean-going vessels, including newbuildings, spans dry bulk, container shipping, chemical tankers, offshore wind, and oil tankers. Prioritizing large marine and industrial applications on hydrogen or ammonia, the group is set to change its corporate identity to CMB.TECH, with Euronav maintaining its focus on oil tanker shipping.