Antwerp, Belgium - 17 October 2022
Euronav NV (NYSE: EURN & Euronext: EURN) ("Euronav" or the "Company") has sold the ULCC (Ultra Large Crude Carrier) Europe (2002 - 441,561 dwt).
The vessel is debt free and the sale will generate a capital gain of USD 34.7 million.
The vessel will be delivered to her new owners during the current quarter and will be used for storage.
The Europe has a capacity of 3 million barrels of crude oil. She was one of only four ships of such scale constructed in 2002 and 2003.
Euronav has an ongoing interest in all of the three other ULCCs. The company retains ownership of the Oceania (2003 - 441,585 dwt) and 100% ownership since July 2022 of the FSO Asia (2002 - 432,023 dwt) and FSO Africa (2002 - 432,023 dwt), with both ULCC vessels converted into purposed-built FSO vessels under long term contract in Qatar.
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. Euronavís owned and operated fleet consists of 2 V-Plus vessels, 39 VLCCs (and three to be delivered), 23 Suezmaxes (of which two vessels are time chartered in and three vessels to be delivered) and 2 FSO vessels.
ULCC Europe. Image by Euronav NV.
Euronav NV press release