Euronav to Sell One of Its Oldest VLCCs

Euronav Belgian tanker owner Euronav NV has entered the final stage of selling its very large crude carrier (VLCC) Famenne, one of its two oldest VLCC vessels, for USD 38.4 million. The 298,412 dwt vessel, built in 2001, is expected to be delivered to an undisclosed buyer during the first quarter 2016. Additionally, the company said that despite the current capital markets sentiment, Euronav continues to experience robust and fundamental strength in the VLCC and Suezmax sectors. The average daily time charter equivalent rates obtained by the company’s fleet in the Tankers International pool in the fourth quarter 2015 was approximately USD 62,000 per day, according to Euronav. The time charter equivalent earnings of the Euronav Suezmax spot fleet was above USD 40,000 per day for the fourth quarter 2015.