Antwerp, Belgium - 15 January 2019
Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) is pleased to announce that the Company has sold the Suezmax vessel Felicity (2009 – 157,667 dwt) to a global supplier and operator of offshore floating platforms. A capital loss on the sale of approximately USD 3.0 million will be recorded in Q4 2018.
The cash generated on this transaction after repayment of debt will be USD 21.1 million. The vessel has been delivered to her new owners and will be converted into an FPSO and therefore leave the worldwide trading fleet. Euronav will announce Q4 results on Thursday January 24 th, 2019.
Paddy Rodgers, CEO of Euronav said: “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. It reflects our reputation for providing high quality operational tonnage for the offshore sector.”
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 ULCCs, 43 VLCCs, 26 Suezmaxes (one under construction), 2 LR1s and 2 FSO vessels (both owned in 50%-50% joint venture). The Company’s vessels mainly fly Belgian, Greek, French, Liberian and Marshall Island flags.
Euronav NV press release
Suezmax "Felicity ". Image by Euronav NV