Marine Link
Saturday, December 10, 2016

Euronav NV Implements Tanklog Transaction

June 29, 2005

Euronav NV completed the first tranche of the implementation of the Tanklog transaction. Five newbuilding contracts and two bareboat time charter contracts were novated to Euronav in exchange for a cash payment and a capital increase by means of a contribution in kind by which a total of 1,534,310 new shares were issued to companies related to Tanklog Shipholdings Ltd. The new shares will be listed on Euronext as from June 30, 2005. The five newbuild contracts are for the construction of five ice-class Suezmax tankers to be built by Samsung Heavy Industries (010140.KS) in Korea for delivery in 2006 and 2007. The two bareboat charter contracts are for two Aframax tankers, the Fidelity and the Fantasy, which are currently under long term contractual arrangements with major independent U.S. refiners.


 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News