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Euronav's Green Shipping Strategy
Here's an article by The Maritime Executive on Euronav's plan to acquire 120 low-carbon ships.
Accoriding to the article:
- Euronav, led by new CEO Alexander Saverys, plans to acquire 120 low-carbon ships to pivot towards green shipping.
- The company aims to expand into dry bulk and container segments, focusing on vessels with reduced carbon emissions or green fuel usage.
- Following a control battle with Frontline, the Saverys family secured a majority stake and plans to acquire CMB.TECH, a subsidiary focused on ammonia-powered fleet expansion.
Here are some key insights on the other works of Euronav besides this:
- Under the leadership of new CEO Alexander Saverys, Euronav is transitioning from a tanker specialist to a diversified, green shipping company.
- Euronav has implemented various sustainability initiatives through partnerships and collaborations, such as participating in the Getting to Zero Coalition, Global Maritime Forum, and Poseidon Principles.
- Euronav's IoT platform, FAST (Fleet Automatic Statistics & Tracking), helps reduce fuel consumption and CO2 emissions, with potential savings of $1-2,000 per day per vessel.
- Euronav's participation in EU-funded research projects like OPTIWISE and DT4GS, that aim to develop and demonstrate energy savings using wind propulsion, hydrodynamic improvements, and digital twin technologies.
