Euronav Sells Its Oldest VLCC

Euronav Antwerp-based tanker owner and operator Euronav has disposed of Artois, the oldest very large crude carrier (VLCC) in its fleet.  The 298,330 dwt tanker has been sold for USD 22 million to an undisclosed party. Euronav expects to record a capital gain of approximately USD 7.7 million on the sale which will be recorded in the current quarter. The vessel is scheduled to be delivered to its new owner in early December, according to Euronav. As explained, the sale is part of Euronavs ongoing fleet renewal program and, together with other initiatives, reduces further the average age of the companys fleet. Built at Hitachi shipyard in Japan in 2001, the ship has currently a market value of USD 19.4 million, VesselsValues data shows. Following the recent sale, Euronavs fleet currently comprises 55 vessels, according to the companys website.