Euronav Sets Course for Sustainability with Fleet Renewal Strategy

Belgian shipping giant Euronav is making waves in the industry with a comprehensive fleet renewal plan prioritizing sustainability. The company announced a three-part strategy that sheds older vessels, strengthens its cargo capacity, and embraces the future of clean fuels.

Euronav has divested itself of three Very Large Crude Carriers (VLCCs), a move that could signal a shift in the company's long-term vision. While details surrounding the sale remain undisclosed, it suggests a potential move away from traditional heavy fuel reliance.

To bolster its overall shipping capabilities, Euronav has taken delivery of two newcastlemax bulkers, significantly enhancing their capacity for transporting dry cargo.?

The most groundbreaking aspect of the plan lies in Euronav's order for three new ships. This exciting development includes one VLCC and two newcastlemax bulkers, all designed with the capability to utilize ammonia as fuel. This bold move positions Euronav at the forefront of exploring alternative, cleaner fuels for the future of maritime transportation.

The new vessels will be constructed by Qingdao Beihai Shipbuilding Heavy Industry, a trusted partner for Euronav. Deliveries are expected within the first half of 2027.

Euronav's strategic maneuvers directly address a critical challenge faced by the shipping industry: how to effectively reinvest substantial profits while prioritizing environmental responsibility. Their decision to invest in ammonia-ready tankers demonstrates a clear commitment to sustainability and positions them well to adapt to the potential adoption of ammonia as a future marine fuel source.?