Euronav Disposes of VLCC Famenne

Belgium-based tanker operator Euronav NV has sold its wholly-owned 298,412 dwt very large crude carrier (VLCC) Famenne for USD 38.4 million to an undisclosed buyer.

The 2001-built vessel, one of the company’s two oldest VLCC vessels, is expected to join its new owner in the course of the first quarter of 2016.

Euronav expects that the sale will contribute a capital gain of about USD 13.8 million at the delivery of the vessel.

According to the company, following the sale, the availability of the revolver under the USD 750 million facility will be reduced by USD 23.7 million.

Euronav recently said that, despite the current capital markets sentiment, it continues to experience positive results in the VLCC and Suezmax sectors.

The company’s average daily time charter equivalent rate in the Tankers International pool was approximately USD 62,000 per day in the fourth quarter of 2015, while the time charter equivalent earnings of the Euronav Suezmax spot fleet was above USD 40,000 per day for the fourth quarter of 2015.

Share this article

Follow World Maritime News

In Depth>


<< Jun 2019 >>
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >