Euronav announces sale of its Suezmax Bastia for USD 20.5 million, says a press release published on their website.
Sale details
Euronav NV announced the sale of Suezmax Bastia (2005 – 159,155 dwt) for USD 20.5 million.
A capital gain on the sale of approximately USD 0.7 million will be recorded in the current quarter in the joint venture company. The vessel has been delivered to her new owners.
Exceptional 50% return
The vessel was acquired in November 2019 in a 50/50 joint venture with affiliates of Ridgebury Tankers and clients of Tufton Oceanic.
Whilst the holding period was relatively short, the strong tanker market over the past 11 months has helped driving an exceptional return in excess of 50 % on this investment.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Euronav
