Euronav sells VLCC TI Topaz
Euronav NV has sold the VLCC TI Topaz (2002 – 319,430 dwt), one of its two oldest VLCC vessels, for USD 21 million. The vessel is wholly owned by Euronav. The company will record a capital loss on the sale of this vessel in an amount of USD 21 million and will record it in this current quarter.
The vessel is expected to be delivered during the second quarter ahead of its third Special Survey which will be performed by her new owner. The TI Topaz joined the Euronav Fleet in the first quarter of 2005 and has contributed positively over the years to the results of Euronav especially during strong freight rate years such as 2005, 2006, 2008, 2010, 2015 and 2016.
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. Euronav 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 57 double hulled vessels being 1 V -Plus vessel, 31 VLCCs, 19 Suezmaxes, four Suezmaxes under construction and two FSO vessels (both owned in 50% -50% joint venture). Euronav’s vessels mainly fly Belgian, Greek, French and Marshall Island.