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Euronav sells ultra large crude carrier Europe

Euronav NV has sold the ULCC (Ultra Large Crude Carrier) Europe (2002/441,561 dwt). The vessel is debt free and the sale will generate a capital gain of US$34.7 million. The vessel will be delivered to her new owners during the current quarter and will be used for storage.

Europe has a capacity of three million barrels of crude oil. She was one of only four ships of such scale constructed in 2002 and 2003. Euronav has an ongoing interest in all of the three other ULCCs.

The company retains ownership of Oceana (2003/441,585dwt) and 100% ownership since July 2022 of the FSO Asia (2002/432,023dwt) and FSO Africa (2002/432,023dwt), with both ULCC vessels converted into purposed-built FSO vessels under long term contract in Qatar.

Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia.

Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners.

Euronav’s owned and operated fleet consists of 2 V-Plus vessels, 39 VLCCs (and three to be delivered), 23 Suezmaxes (of which two vessels are time chartered in and three vessels to be delivered) and two FSO vessels.

 

Photo courtesy of foggy/shipspotting.com

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