Euronav’s owned fleet is now entirely double hulled after its joint venture subsidiary, Front Tobago Shipping Corporation- in which Euronav holds a 30 percent share- sold the MT Front Tobago to one of the partners in the Joint Venture, Frontline Ltd. The MT Front Tobago was the only remaining single hull vessel in which Euronav owned interest.
The company will realize a capital gain of $3.875 million. Euronav, which has one of the youngest fleet in the industry, is focused on quality, service and safety. It has met the IMP phase out of single hulls well ahead of the deadline of 2010.