Euronav NV (NYSE: EURN & Euronext: EURN) (Euronav) announced earlier today that the Company has sold the Suezmax Cap Jean (1998 - 146,643 dwt) for USD 10.6 million. The vessel was delivered to her new owners on June 8th. The Company will record a capital gain of approximately USD 10.6 million in the current quarter.

Euronav sells Suezmax Cap Jean
Caption: Crude oil tanker Cap Jean - Image courtesy of Gary Morgan

The sale of the Cap Jean is part of a fleet rejuvenation program.

Together with the, sale Euronav is taking in operation four new Suezmax vessels, of which two have already been delivered, with the remaining two due for delivery from the Hyundai yard in South Korea (HHI) during summer 2018. Those 4 vessels will all go under seven year time charter contracts with a leading global refinery player.

Source: Euronav