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Euronav Sells Suezmax Tanker for Offshore Project

Last Updated January 15, 2019

Euronav Sells Suezmax Tanker for Offshore Project 1

As informed, the 157,667 dwt vessel has been delivered to its new owners and will be converted into an FPSO.

“Once again Euronav has demonstrated a capability to generate value for our stakeholders as part of our approach on fleet renewal. This is the eighth vessel we have successfully introduced into an offshore project,” Paddy Rodgers, CEO of Euronav, said.

Euronav said it will record a capital loss on the sale of approximately USD 3 million in Q4 2018. The company expects to generate the cash of USD 21.1 million on this transaction, after repayment of debt.

Built at Samsung Heavy Industries shipyard in South Korea in 2009, the ship has a market value of USD 31.83 million, according to data provided by VesselsValue.

Euronav’s owned and operated fleet currently comprises two ULCCs, 43 VLCCs, 25 Suezmaxes, one LR1 and two FSO vessels (both owned in 50%-50% joint venture).

Press Releases: Euronav

Photo Courtesy: Euronav

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