Euronav Orders Two Bitumen Tankers, Files 6-K

TL;DR

**Euronav just ordered two new bitumen tankers, signaling a strategic move into a new market segment!**

AI Summary

Euronav NV announced on February 26, 2024, that it has placed an order for two bitumen tankers. This information, excluding commentary from Alexander Saverys, is incorporated by reference into the company's Form F-3 registration statement (File No. 333-272785). The filing is a Form 6-K report to the SEC for the month of February 2024.

Why It Matters

This order signifies Euronav's expansion into the bitumen tanker market, potentially diversifying its revenue streams and operational scope beyond traditional crude oil tankers.

Risk Assessment

Risk Level: low — The filing reports a new order, which is a standard business operation and does not inherently introduce significant new risks.

Key Numbers

• 2 — bitumen tankers (number of tankers ordered by Euronav NV)
• 001-36810 — Commission File Number (SEC file number for Euronav NV)
• 333-272785 — Form F-3 File No. (registration statement number for Euronav NV)

Key Players & Entities

• Euronav NV (company) — registrant and company placing the order
• Alexander Saverys (person) — commentary excluded from incorporation by reference
• U.S. Securities and Exchange Commission (company) — regulatory body
• February 26, 2024 (date) — date of press release and filing
• File No. 333-272785 (dollar_amount) — registration statement number

FAQ

Filing Documents

• d10990149_6-k.htm (6-K) — 23KB
• image00001.jpg (GRAPHIC) — 8KB
• 0000919574-24-001728.txt ( ) — 34KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. EURONAV NV (Registrant) Dated: February 26, 2024 By: /s/ Ludovic Saverys Ludovic Saverys Chief Financial Officer EXHIBIT 99.1 PRESS RELEASE Monday 26 February 2024 – 08:00 a.m. CET _______________________________________ EURONAV ANNOUNCES ORDER FOR 2 DUAL-FUEL BITUMEN TANKERS UNDER LONG-TERM CHARTER DEAL ANTWERP, Belgium, 26 February 2024 – Euronav NV ("EURN", "Euronav" or "the Company") (NYSE: EURN & Euronext: EURN) is pleased to announce that it has concluded an order for two bitumen tankers with China Merchants Jinling Shipyard (Yangzhou) Dingheng Co. (Yangzhou, China). The vessels are expected to be delivered in the fourth quarter of 2026 and have been chartered to a strong counterparty for 10 years upon delivery from the shipyard. The vessels will have dual-fuel green methanol engines that are ready to be retrofitted for future operation on ammonia. Worldwide there are 230 bitumen tankers with an average age of 15 years. The ordered vessels' deadweight will be 17,000 tons, which is twice the 8,000 ton average of the existing fleet. Bitumen tankers are tankers that mainly carry asphalt at a temperature of 250 degrees. Euronav & CMB.TECH are committed to become the reference in sustainable shipping by focusing on diversification, optimisation & decarbonisation. The group also announced two time charter contracts with Valero in December 2023. Earlier this year, CMB.TECH & Euronav announced the construction of the world's first ammonia-fuelled container ship in partnership with NCL and Yara . With the addition of the charters for the two new bitumen tanker charters, the total contract backlog of Euronav amounts to 1,975 million USD. Alexander Saverys, CEO Euronav: "With the new orders for two state-of-the-art and green newbuilding bitumen tankers, we c

Forward-Looking Statements

Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbour protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbour legislation. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates

View Full Filing

View this 6-K filing on SEC EDGAR