The world’s largest independent crude oil tanker owner is said to have sold the ageing vessel to an unnamed Greek entity
Belgium-headquartered Euronav said it will record a profit of US$8.3M on the sale of Suezmax tanker Finesse.
According to online valuation service VesselsValue, the 150,000-dwt vessel has been renamed Aldus and is listed as belonging to an unknown Greek owner.
The vessel’s registered owner is the single-tanker owning Zircon Shipping, and its flag state is the Marshall Islands.
Sold for US$21.8M, VesselsValue lists the vessel’s current market valuation as US$18.42M. A statement from Euronav said the sale was part of its fleet rejuvenation policy.
"Euronav is pleased to announce that the company has sold the Suezmax vessel M/T Finesse [built in 2003 and weighing 149,994 dwt] for US$21.8M. A capital gain on the sale of approximately US$8.3M will be recorded during the current quarter. The vessel has been delivered to its new owners," the statement said.
"Euronav considers regular fleet rejuvenation an important function of vessel management in providing quality services to our clients. With the transaction Euronav sold one of its oldest Suezmax vessels, bringing the total balance of its Suezmax fleet to 26 vessels (including JVs)."
Euronav has recorded a series of transactions after a strong Q4 2019. The company reported an average charter rate of US$61,700/day amid a rate spike that saw a sharp jump in revenue of US$355M in Q4 2019 for Euronav, compared to US$236M in Q4 2018.
In early January 2020, Euronav offloaded three VLCCs in a sale and leaseback deal with Taiping and Sinopec Financial.
In February, the company bought three VLCCs currently under construction at DSME for an aggregate purchase price of US$280.5M.