Euronav Acquires Four VLCCs

Thursday, March 03, 2005
Euronav NV entered into an agreement with Metrostar to buy four VLCCs, the Crude Guardian (1993 - 290,927 dwt), the Crude Creation (1998 - 298,304 dwt), the Crude Topaz (2002 - 319,470 dwt) and a newbuilding (± 318,000 dwt) to be delivered in May 2005 for USD 477.5 million en bloc. Delivery is expected to take place in March for the Crude Guardian and the Crude Creation and in April for the Crude Topaz. The vessels will be employed in the Tankers International pool that currently operates 45 VLCCs and ULCCs.

The vessels will be acquired by Euronav NV, a Belgian company and will fly the Belgian flag. Given the market outlook, the Executive Committee is confident that the addition of the 4 vessels will be accretive to both growth and earnings of the company.

This purchase will not have any effect on the dividend policy of the company. In addition the board will meet on March 16th and will make a proposal to the General Meeting of Shareholders on the final dividend to be paid. The Executive Committee is currently intending to propose to the board a total gross dividend for 2004 of EUR 3.2 of which EUR 1.6 was paid as interim dividend on December 6th, 2004.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

China Shipyards Bag the Week's Ocean-going Newbuild Orders

Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO

Scorpio Tankers Report Q2, 1H 2014 Profit Slip

Scorpio Tankers Inc. has reported its results for the three and six months ended June 30, 2014. Highlights excerpted here as follows: Results for the three months ended June 30,

Marseilles Fos Reports Mixed First Half

First-half container traffic at leading French port Marseilles Fos totalled 583,287 teu – up 7% on the first six months last year - marked by a 10% increase at the deepsea Fos terminals.

Navy

USNS Ship Rescues Nine in Gulf of Oman

'USNS Richard E. Byrd' (T-AKE 4), a Lewis and Clark-class dry cargo ship, rescued 9 crew members from a Yemeni-flagged cargo vessel 'Asaed' that had lost power,

HMS Prince of Wales Delivery Begins

A huge section of hull for HMS Prince of Wales, the second aircraft carrier being delivered to the Royal Navy, has today departed BAE Systems in Glasgow on a 600-mile

Today in U.S. Naval History: July 28

Today in U.S. Naval History - July 28 1915 - Sailors and Marines land in Haiti to restore order 1916 - Navy establishes a Code and Signal Section which initially

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1020 sec (10 req/sec)