Fleet Rejuvenation: Euronav Sells Its Oldest Vessel

Belgian oil tanker operator Euronav said Monday it had sold the Suezmax tanker Filikon, built-in 2002, for $16.3 million. It did not say who the buyer was.

Euronav said that a capital gain on the sale of the 149,989 dwt tanker was around USD 9.3 million. The vessel was delivered to its new owners on June 4, 2021

"Euronav considers regular fleet rejuvenation an important function of vessel management in providing quality services to our clients. The Filikon is the oldest conventional vessel in the Euronav fleet," Euronav said.

Since the start of 2020 Euronav has sold its interests in eight vessels (four Suezmax and four VLCC) with an average build date of 2005. 

"The capital invested has been recycled into eight large tankers, four of which are VLCCs already on the water, with two modern eco-VLCC and two modern eco-Suezmax due for delivery in the years to come," Euronav said.