Euronav sells ageing Suezmax tankers

The New York and Brussels-listed company said 150,000-dwt Sapphira, built 2008, and Statia, built 2006, were sold to a subsidiary of its controlling shareholder Compagnie Maritime Belge (CMB), as part of its fleet rejuvenation plans.

Both tankers were built in Japan by Universal Shipbuilding and were part of the fleet acquired in 2018 through the takeover of Peter Georgiopoulos’ Genmar. They have now gone on short-term time charter with Bocimar International, another CMB subsidiary.

The vessels were delivered to their new owner on 26 September 2024. Euronav said the purchase price is an aggregate US$87M and the sale will generate US$61M in fresh funds which the company said will be allocated towards funding its newbuild vessels. Euronav currently has 11 tankers on order and six VLCCs and Suezmaxes dating back to 2007.

Earlier this year, Euronav sold three VLCCs for a combined US$79M to South Korea’s Sinokor, and in recent weeks, the Belgian shipowner also agreed the sale of a 2009-built Suezmax and 2012-built VLCC.

From October, Euronav will officially be renamed CMB.Tech and will continue to focus on eco ships.