Euronav buys 15 crude carriers from Maersk Tankers

BRUSSELS: Belgian crude oil shipping group Euronav said on Sunday it will buy 15 very large crude carriers (VLCCs) from Denmark's Maersk Tankers, a unit of A.P. Moller-Maersk, for $980 million.

Euronav shares were suspended from trading early last week pending a statement about the Antwerp-based company's tanker plans.

"The outlook for the large crude tanker market has improved significantly over the last months indicating a resurgence of demand and an improved near-term outlook," the company said.

Most of the ships will be delivered between late January and June. The company will give more details on financing later.

Maersk Tankers said in November it planned to focus on the smaller product tanker segment.