Euronav JV pockets $6.5m from suezmax sale

Belgium-based tanker giant Euronav has pocketed a piece of the $6.5m profit from the sale of a seventeen-year-old suezmax Bari jointly owned with Ridgebury Tankers and Tufton Oceanic Assets.

The 159,186 dwt ship, acquired in November 2019 in a 50/50 joint venture with affiliates of Ridgebury Tankers and clients of Tufton Oceanic, was sold for $21.5m. 

The Liberian-flagged tanker has already been delivered to an undisclosed Greek buyer and renamed Leopard I, according to VesselsValue data. Euronav said the profit will be booked in the second quarter of the joint venture company. 

Euronav recently swooped for the final two VLCCs in the fleet of US owner Hartree Partners. The deal is said to have an en bloc price tag of $184m.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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