Euronav sells VLCC Flandre for USD 45 million for offshore project
Euronav NV has sold the VLCC Flandre (2004 – 305, 688 dwt) for USD 45 million to a global supplier and operator of offshore floating platforms, the company said in its press release. The Flandre is wholly owned by Euronav and following the recent sale of the Artois (2001 – 298,330 dwt) is the oldest vessel in the Company’s VLCC fleet.
A capital gain of approximately USD 20.3 million on the sale will be recorded in the current quarter. The vessel is expected to be delivered in December 2017 and will be converted in to a n FPSO by her new owner and will therefore leave the worldwide VLCC trading fleet.
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 unde r 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 54 double h ulled vessels being 1 V - Plus vessel, 29 VLCCs, 18 Suezmaxes, four Suezmaxes under construction and two FSO vessels (both owned in 50% - 50% joint venture).