Euronav now owns only two ULCCs in the world

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Euronav Tankers NV has announced that it has acquired the ULCC Seaways Laura Lynn from Oceania Tanker Corporation, a subsidiary of International Seaways. Euronav renamed the ULCC as Oceania and registered it under the Belgian flag.
Euronav Tankers bought the Seaways Laura Lynn (2003 – 441,561 dwt) from International Seaways for 32.5 million USD. The Laura Lynn is the only other ULCC in the global tanker fleet – Euronav owns the other one, the TI Europe (2002 – 442,470 dwt).
Paddy Rodgers, CEO of Euronav, said: “Bringing the only other ULCC in the world fleet under our control will provide us with a significant strategic opportunity.”

Mike Godfrey
Author: Mike Godfrey

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