In a statement the Belgian tanker operator said the vessels were purchased en-bloc at a cost of approximately $342m .
“This acquisition fits into the company’s strategy to further strengthen its position as the leading listed crude tanker company,” it told investors Tuesday, adding:
"This will not only rejuvenate the company’s fleet but it will also complement the company’s existing fleet and further position Euronav as the key pure play consolidator in the crude tanker industry.”
While the units were not identified by name the Belgian operator pointed out that all four were built in Japan and three-years-old on average.
Three are due for delivery in the third and fourth quarters of this year and the fourth is scheduled to change hands in the second quarter of 2015.
Brokers believe the units are the remnants of Nissen Kaiun’s VLCC stable- the 300,000-dwt Maersk Hojo (built 2013), MaerskHakata(built 2010), Bright Harmony(built 2009) andBright Pioneer (built 2010)- but these claims could not be verified at the time of writing Tuesday.
Euronav says it plans to finance a portion of the acquisition with proceeds from a private placement of shares, an exercise in which it hopes to raise $100m, and intends to cover much of the balance with bank debt.
The operator pointed out that its VLCCs, which operate in the Tankers International pool, earned $19,150 per day on average during the second quarter of 2014 while suezmaxes trading spot raked in around $20,500.
“As there is very limited tonnage increase forecast the market is expected to be volatile and if current momentum maintains through the third quarter then the winter (in the northern hemisphere) will get off to a strong start,” the operator added in an update about the tanker market.
