The Singapore-Loyalty: Crew Feedback and Vessel Data

Euronav, the prominent Belgian tanker operator, has successfully completed a significant sale and leaseback deal involving four Very Large Crude Carriers (VLCCs). This five-year agreement was made with investment vehicles advised by Wafra Capital Partners, a private equity firm backed by Kuwaiti interests. The vessels included in this transaction are the Nautilus (built in 2006), and three vessels from 2007: Navarin, Neptun, and Nucleus. The deal was concluded at a collective purchase price of $186 million, resulting in a capital gain of approximately $37 million for Euronav. Following the repayment of the existing debt associated with the vessels, the transaction has effectively unlocked over $100 million in free cash for the company. On December 22, the four VLCCs were successfully delivered to Wafra's investment vehicles. As part of the agreement, Euronav has secured a bareboat charter for these ships, leasing them back at an average daily rate of $22,000 per vessel for the entirety of the five-year period. At the conclusion of each contract, ownership of the vessels will revert to their new owners.

In response to the declining crude oil rates, Maersk Tankers has made the strategic decision to lay up two of its supertankers, the "Maersk Nautilus" and "Maersk Nucleus". These vessels are set to remain inactive for a minimum of one year, moored off the coast of Malaysia in the well-known Brunei Bay, a favored spot for ship lay-ups. Additionally, the supertanker "Titan Tulshyan" is currently anchored in the same bay, highlighting the ongoing trend in the industry due to market conditions.