Euronav NV has entered into an agreement to sell its ship management arm, Euronav Ship Management Hellas, to Anglo-Eastern Univan Group, enhancing Anglo-Eastern’s presence in the Greek market and crude oil tanker operations.
Target Information
Euronav NV, a prominent player in the maritime industry, is entering a strategic agreement with Anglo-Eastern Univan Group regarding the sale of Euronav Ship Management Hellas (ESMH). ESMH functions as Euronav’s ship management division, which focuses on overseeing the operations of its trading ocean-going tankers. Under this arrangement, Anglo-Eastern will take over management responsibilities for the vessels currently under ESMH on an 'as is' basis, allowing for continued operational efficiency.
This transaction is expected to solidify Anglo-Eastern's position within the Greek market and significantly expand its presence in the large crude oil tanker segment. The integration of ESMH into Anglo-Eastern’s extensive global network will not only enhance service capabilities but also unlock a myriad of growth opportunities across various geographic regions and vessel types.
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Industry Overview in Greece
The Greek shipping industry is renowned for its size and significance, being one of the largest in the world. Greece has a historical legacy in maritime commerce, bolstered by
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