Euronav gains $18m upon redelivery of four sale and leaseback VLCCs

Belgian tanker giant Euronav has revealed that upon the redelivery of four VLCCs, which occurs at the maturity of a five-year sale and leaseback agreement, the company will book a $18m capital gain on disposal of assets. The four VLCCs are the Nautilus, Navarin, Neptun and the Nucleus.

After the departure of these four VLCCs the Euronav fleet will comprise of 41 VLCCs, 27 suezmaxes, 2 FSOs and two ULCCs. Euronav has welcomed two suezmax newbuildings this month, the Cedar and the Cypress.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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