Euronav Sells Suezmax Oldie

Belgium-based tanker owner Euronav has sold its 1998-built Suezmax tanker, Cap Jean.

The 146,643 dwt vessel, which was disposed for a price of USD 10.6 million, was delivered to its new owners on June 8.

Euronav informed that it will record a capital gain of around USD 10.6 million in the current quarter.

The sale of Cap Jean is part of the company’s 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 four vessels will all go under seven-year time charter contracts with an undisclosed refinery player, the company concluded.