Euronav sells Suezmax Cap Romuald

Maritime Activity Reports, Inc.

August 23, 2018

Photo: Euronav

Photo: Euronav

Euronav NV announced that the Company has sold the Suezmax Cap Romuald (1998 – 146,640 dwt) for USD 10.6 million.

The vessel was delivered to her new owners on 22 August. The Company will record a capital gain of approximately USD 9 million in the current quarter.

The sale of the Cap Romuald is part of a fleet rejuvenation program. Together with the sale Euronav is taking in operation four new Suezmax vessels, of which three (Cap Pembroke, Cap Quebec and Cap Port Arthur) have already been delivered, with the remaining one due for delivery at the end of August.

Those 4 vessels will all go under seven year time charter contracts with a leading global refinery player.

Euronav's fleet includes FSOs, a V-PLus, VLCCs and Suezmax vessels which are either employed on the spot market or on long-term time charter.

Euronav is a founding member of the Tankers International VLCC pool which operates the largest modern fleet of VLCCs available today. In June 2016 Euronav also founded Suezmax Chartering, a commercial joint venture with Diamond S Management LLC and Frontline Ltd.

The aim of the joint venture is to create a single point of contact for cargo owners to access a large fleet of 43 modern Suezmax vessels, including newbuildings, operated on the spot market. Euronav vessels fly Belgian, Greek, French, Marshall Islands and Panamese flag.

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