EURONAV NV EURONAV AND ANGLO-EASTERN JOIN FORCESEuronav NV ("Euronav ") andAnglo-Eastern Univan Group ("Anglo-Eastern") are pleased to announce a Heads of Agreement ("HoA") for the sale and purchase ofEuronav Ship Management Hellas ("ESMH"),Euronav's ship management arm.Euronav and Anglo-Eastern intend to join forces through this sale, with the latter assuming ownership of ship management responsibilities for the vessels currently under ESMH on an "as is" basis. This transaction will provide Anglo-Eastern with a strong local presence in the Greek market while also greatly enhancing its footprint in large crude oil tankers. Post-integration, ESMH will become part of Anglo-Eastern's vast global network, offering the combined entity a wide range of growth opportunities in different regions and ship types. Bjorn Hojgaard, CEO of Anglo-Eastern, emphasised the mutually beneficial nature of this agreement which "will enable both companies to focus on what they do best and reflectsEuronav's utmost confidence in Anglo-Eastern's ability to deliver as a ship manager and wider initiatives related to safety, quality, digitalisation, crew training and decarbonisation".Alexander Saverys , CEO: "We are very happy to join forces with Anglo-Eastern. We already have a strong collaboration with Anglo-Eastern and this combination will further enhance our business relation, offering plenty of new opportunities for our company and our people." The HoA is subject to further documentation and final board of directors' approval. * * * Contact: Head ofMarketing & Communications -Katrien Hennin Tel: +32 499393470 Email: Katrien.hennin@cmb.tech Publication first quarter 2024 results -8 May 2024 AboutEuronav and Euronav Ship Management HellasEuronav and CMB.TECH together represent a group with around 150 ocean-going vessels (including newbuildings) in dry bulk, container shipping, chemical tankers, offshore wind vessels and oil tankers. The group focuses on large marine and industrial applications on hydrogen or ammonia. They also offer hydrogen and ammonia fuel to customers, through own production or third-party producers. It's also working on developing hydrogen applications like trucks, locomotives, and straddle carriers. The group believes that using hydrogen for smaller ships and ammonia for larger ones could play a major role in making shipping greener. Decarbonise Today, Navigate Tomorrow!Euronav is planning to propose to its shareholders to change its name to CMB.TECH. However,Euronav will remain the name for the tanker division. The focus is on diversification, decarbonisation and optimisation of the fleet. The company's goal is to becoming the reference in sustainable shipping.Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN. The company is headquartered inAntwerp, Belgium , and has offices acrossEurope andAsia .Euronav Ship Management (Hellas) Ltd was established inAthens, Greece in 2005 and is engaged in the ship management of the trading ocean-going oil tankers ofEuronav and the supervision of newbuilding constructions. Ship management includes crewing, technical, procurement, accounting, safety and quality assurance. AboutAnglo-Eastern Univan Group Anglo-Eastern Univan Group is a leading global provider of independent ship management services, with 650+ vessels under full technical management, around 500 ships under crew management, and almost 1,000 newbuildings and conversions across its newbuilding supervision and project management divisions. At the core of this effort is a dedicated workforce of more than 37,000 seafarers and over 2,100 shore employees who support clients across ship types, and are committed to building trust, driving performance, and shaping a better maritime future. The group is headquartered inHong Kong and comprises a network of more than 29 locations spanningAsia ,Europe , and theAmericas that includes wholly owned training centres and the Anglo-Eastern Maritime Academy. www.angloeastern.com 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 and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with theUnited States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
Click here for more information
© Oslo Bors ASA, source
