Belgian tanker owner Euronav has sold its last product tanker, the 2004-built 72,768 dwt Genmar Compatriot, marking the company’s exit from the product tanker sector.
The vessel was sold to an undisclosed party for $6.75m, and will be delivered to its new owner in April. MSI values the ship at $10.2m.
Euronav says it will record a capital gain of approximately $0.4m from the deal.
The vessel joined the Euronav fleet as part of the Gener8 merger in June 2018 and according to Euronav, it was always a non-core asset to the company.
Following the sale, Euronav’s owned and operated fleet will consist of 72 vessels made up of two ULCCs, 43 VLCCs, 25 suezmaxes and two FSO vessels.