Euronav Sells Felicity for FPSO Conversion

Maritime Activity Reports, Inc.

January 15, 2019

Image: Euronav

Image: Euronav

Belgium's crude oil tanker company Euronav NV announced that it has sold the Suezmax vessel Felicity (2009 – 157,667 dwt) to a global supplier and operator of offshore floating platforms.

The vessel has been delivered to her new owners and will be converted into an FPSO and therefore leave the worldwide trading fleet.

The buyer's name and financial terms are not disclosed. However, the NYSE-listed company revealed that a capital loss on the sale of approximately USD 3.0 million will be recorded in Q4 2018.

The cash generated on this transaction after repayment of debt will be USD 21.1 million, the tanker shipping company said.

Paddy Rodgers, CEO of Euronav said: “Once again Euronav has demonstrated a capability to generate value for our stakeholders as part of our approach on fleet renewal. This is the eighth vessel we have successfully introduced into an offshore project. It reflects our reputation for providing high quality operational tonnage for the offshore sector.”

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