Sale of the VLCC Famenne

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Paper boatsEuronav has announced the sale of the VLCC Famenne (2001 – 298,412 dwt), one of its two oldest VLCC vessels, for $38.4 million. The vessel is wholly owned by Euronav.

The capital gain on the sale of about $13.8 million will be recorded at delivery. Following the sale, the availability of the revolver under the $750 million facility will be reduced by $23.7 million. The vessel is expected to be delivered to its new owner in the course of the first quarter 2016.