Euronav sells Suezmax Cap Diamant

Antwerp, Belgium - 15 April 2020

Euronav NV (NYSE: EURN &Euronext: EURN) (“Euronav” or the “Company”) is pleased to announce that the Company has sold the eldest vessel in our fleet, the Suezmax Cap Diamant (2001–160,044 dwt) for USD 20.8 million.

A capital gain on the sale of approximately USD 13 million will be recorded during the current quarter. The vessel has been delivered to her new owners.

Euronav considers regular fleet rejuvenation an important function of vessel management in providing quality services to our clients.

With the transaction Euronav sold its oldest Suezmax vessel, bringing the total balance of its Suezmax fleet to 25vessels (including JVs).

About Euronav
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 2 V-Plus vessels, 42 VLCCs (with four resales due for delivery 2020/21), 25 Suezmaxes (two of which are in a joint venture) and 2 FSO vessels (both owned in 50%-50% joint venture).

Euronav NV press release