Euronav Sells Two Eldest Suezmaxes

Published Jun 13, 2022 11:57 AM by The Maritime Executive

[By: Euronav]

Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) 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.

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