Antwerp, Belgium - 8 May 2020
Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) is pleased to announce that the Company has sold the VLCC TI Hellas (2005–319,254 dwt) for USD 38.1million.
A capital gain on the sale of approximately USD 1.6 million will be recorded in the current quarter. The vessel will be delivered to her new owners at the end of May after completion of the current voyage.
Euronav considers regular fleet rejuvenation an important function of vessel management in providing quality services to our clients.
Since the beginning of this year, Euronav has sold one VLCC and two Suezmax vessel (all over 15 years of age) but also acquired four new build Eco-type VLCC resales due for delivery later in 2020 and early 2021.
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, 41VLCCs (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