Euronav sells LR1 Genmar Сompatriot
Euronav NV has sold the LR1 Genmar Compatriot (2004–72,768dwt) for USD 6.75million. The vessel will be delivered to her new owners in the course of April 2019, the company said in its release. The Company will record a capital gain of approximately USD 0.4million in the second quarter.
The LR1 Genmar Compatriot joined the Euronav fleet as part of the Gener8 merger in June 2018 and was always a non-core asset to the Company. With this LR1 being sold, Euronav’s owned and operated fleet consists of 72 top segment vessels: 2 ULCCs, 43 VLCCs, 25 Suezmaxes and 2 FSO vessels (both owned in 50%-50% joint venture).
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav’s owned and operated fleet consists of 2 ULCCs, 43VLCCs, 25 Suezmaxes and 2 FSO vessels (both owned in 50%-50% joint venture).