Euronav quits products, sells last non-core asset from Gener8 takeover

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.



Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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