Euronav Sells ULCC Europe

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Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) has sold the ULCC (Ultra Large Crude Carrier) Europe (2002 – 441,561 dwt). The vessel is debt free and the sale will generate a capital gain of USD 34.7 million. The vessel will be delivered to her new owners during the current quarter and will be used for storage, reports an article published on their website.

ULCC

The Europe has a capacity of 3 million barrels of crude oil. She was one of only four ships
of such scale constructed in 2002 and 2003. Euronav has an ongoing interest in all of the
three other ULCCs. The company retains ownership of the Oceania (2003 – 441,585 dwt)
and 100% ownership since July 2022 of the FSO Asia (2002 – 432,023 dwt) and FSO Africa
(2002 – 432,023 dwt), with both ULCC vessels converted into purposed-built FSO vessels
under long term contract in Qatar.

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Source: Euronav

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