Antwerp, Belgium - 6 August 2019
Euronav NV (NYSE: EURN &Euronext: EURN) (“Euronav” or the “Company”) is pleased to announce that Euronav Luxembourg, a subsidiary of Euronav NV, has sold the VLCC vessel VK Eddie (2005 – 305,261 dwt) to a global supplier and operator of offshore floating platforms. A capital gainon the sale of approximately USD 14.4 million will be recorded during the current quarter.
The vessel has been delivered to her new owners and will be converted into an FPSO and therefore leave the worldwide trading fleet.
Euronav’s reputation for providing high quality operational tonnage is appreciated in the offshore sector with the VK Eddiebeing the ninth vessel the Company hassuccessfully introduced into an offshore projectover the past decade.Euronav considers regular fleet rejuvenation an important function of vessel management in providing quality services to its clients.
With the transaction Euronav sold its oldest VLCC, bringing the total balance of its VLCC fleet to 42 VLCCs, with an average age of 6.7years.
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 andperiod market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one ofthe major partners. Euronav’s owned and operated fleet consists of 2 ULCCs, 42 VLCCs, 25 Suezmaxes and 2 FSO vessels (both owned in 50%-50% joint venture).
Euronav NV press release