ANTWERP, BELGIUM: Euronav NV has sold its two eldest Suezmax vessels: the Cap Pierre (2004 – 159,048 dwt) and the Cap Leon (2003 – 159,048 dwt).
The combined capital gain realized on these sales amounts to USD 12.4 million.
Both vessels are debt free. Our understanding is that at least one of the vessels will exit the global fleet to be deployed on storage contracts. As a result of these transactions the average age of our fully owned Suezmax fleet reduces from 11.4 years to 10.7 years.
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 V-Plus vessels, 40 VLCCs (and three to be delivered), 26 Suezmaxes (of which two vessels are time chartered in and three vessels to be delivered) and 2 FSO vessels (both owned in 50%-50% joint venture).