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  • 2016 November 3 13:12

    Euronav buys out joint venture partner for full control of VLCC V. K. Eddie

    Euronav NV has agreed  to purchase the 50%  of  the  joint  venture  it  does  not  own  in  the  VLCC  V . K . Eddie (2005  – 305,261  dwt), the company said in its press release.  Euronav will buy the vessel from the  joint venture company at a price of USD  39 m illion and will  receive  back  50%  of  the  proceeds.  Joint  venture  partner,  Oak  Maritime (Canada)  Inc., has  agreed  for  delivery  of  the  Daewoo - built  vessel  to Euronav full control in mid - November. 

    About Euronav

    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 a nd operated fleet consists of 56 double hulled vesse ls being 1 V - Plus  vessel,  29 VLCCs  (of  which  1  in  50% - 50%  joint  venture),  two  VLCCs  under  construction  which  were  recently  acquired  as  resales  of  existing  newbuilding  contracts,  20 Suezmaxes,  two  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 flags.




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