Euronav has sold 2002-built Suezmax tanker Filikon for a reported US$16.3M, the second large tanker sold out of the fleet in 2021
This is a capital gain on the sale of approximately US$9.3M, according to Euronav. The vessel was delivered to its new owners 4 June 2021.
In a statement, Euronav said regular fleet rejuvenation is an important function of vessel management in providing quality services to its clients. Filikon was the oldest conventional vessel in the Euronav fleet.
Since the start of 2020, Euronav has sold its interests in eight vessels, four Suezmaxes and four VLCCs, with an average build date of 2005. The capital invested has been recycled into eight large tankers, four of which are VLCCs already on the water, with two modern eco-VLCC and two modern eco-Suezmaxes still due for delivery.
The newbuildings on order include two LNG-ready VLCCs due for delivery from Hyundai Samho in Q4 2022 and Q1 2023, costing US$186M en-bloc, and including US$4.2M in additions and upgrades to the standard specifications. Euronav has the option to contract a third VLCC with the same specifications that would be delivered in Q2 2023.
Euronav also has two ammonia-power-prepared Suezmax tankers under construction at Deahan.
The pattern of sales out of the Euronav fleet in 2021 shows the sales take place as the vessels reach a potentially expensive drydocking or special survey.
The last two Euronav sales have also been to “Chinese interests” and will join a growing fleet of large, elderly tankers under Chinese control.
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