EURONAV sells VLCC Artois

By Vessels

Euronav NV (NYSE: EURN & Euronext: EURN) (Euronav) announced earlier today that the Company has sold the VLCC Artois (2001 – 298,330 dwt) for USD 22 million.

EURONAV sells VLCC Artois
Caption: Crude Oil Tanker Artois - Image courtesy of Jan van Kan

The Artois is wholly owned by Euronav and is the oldest vessel in the Company’s VLCC fleet. The Company will record a capital gain of approximately USD 7.7 million on the sale which will be recorded in the current quarter.

The vessel is expected to be delivered to its new owners in early December. This is part of our on-going wider fleet renewal programme and with other recent initiatives reduces further the average age of our fleet.  

Source: Euronav