Antwerp, Belgium - 24 November 2017
Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) is pleased to announce that the Company has sold the VLCC Artois (2001 – 298,330 dwt) for USD 22 million. The Artois is wholly owned by Euronav and is the oldest vessel in the Company’s VLCC fleet.
The Company will record a capital gain of approximately USD 7.7 million on the sale which will be recorded in the current quarter. The vessel is expected to be delivered to its new owners in early December. This is part of our on-going wider fleet renewal programme and with other recent initiatives reduces further the average age of our fleet.
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav’s owned and operated fleet consists of 57 double hulled vessels being 1 V-Plus vessel, 31 VLCCs two VLCCs under construction which were recently acquired as resales of existing newbuilding contracts, 19 Suezmaxes, four Suezmaxes under construction and two FSO vessels (both owned in 50%-50% joint venture). The Company’s vessels mainly fly Belgian, Greek, French and Marshall Island flags. Regulated information within the meaning of the Royal Decree of 14 November 2007.
Euronav NV press release