Hong Kong-based shipmanager Anglo-Eastern has sealed a deal to buy Euronav’s ship-management arm in Greece.
The deal for Euronav Ship Management Hellas will also see the duo join forces, with Anglo-Eastern assuming shipmanagement responsibilities for the tankers currently under Euronav’s management.
The Bjorn Hojgaard-led Anglo-Eastern, with more than 650 ships under full technical management and around 500 under crew management, is expected to bolster its footprint in the Greek market and large crude carriers through the transaction, the companies said in a release, without divulging any financial details surrounding the deal.
“This agreement will enable both companies to focus on what they do best and reflects Euronav’s utmost confidence in Anglo-Eastern’s ability to deliver as a shipmanager and wider initiatives related to safety, quality, digitalisation, crew training and decarbonisation,” said Hojgaard.
The Belgian tanker owner noted that post-integration, subject to boards’ approval, the combined entity should have “a wide range of growth opportunities in different regions and ship types”.
Alexander Saverys, chief executive of Euronav, added that the two companies already have a strong collaboration and that this combination would further enhance business relations, offering plenty of new opportunities for the company and its people.
