Euronav sells VLCC TI Hellas

0
715
Image used for representational purposes only (Image Courtesy: Euronav)

Euronav NV (NYSE: EURN & Euronext: EURN) today announced that the Company has sold the VLCC TI Hellas (2005 – 319,254 dwt) for USD 38.1 million. 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 newbuild Eco-type VLCC resales due for delivery later in 2020 and early 2021,” the company stated.

Sea News, May 8

Baibhav Mishra
Author: Baibhav Mishra