VLCC duo for Euronav

Euronav NV based in Antwerp, Belgium, has signed a contract with Hyundai Heavy Industries to build two double hull 318,000 dwt VLCCs to be delivered in the first quarter of 2009. The construction price for each ship is $120 million. Euronav already owns, fully or in joint venture, 4 ships that were built at HHI, i.e. TI Hellas (2005?318,934 dwt), Ardenne Venture (2004-318,000 dwt), TI Topaz (2002-319,430 dwt), all on the same design as the current order, and Cap Diamant (2001?164,044 dwt).