Euronav NV has agreed to purchase the 50% of the joint venture it does not own in the VLCC V . K . Eddie (2005 – 305,261 dwt), the company said in its press release. Euronav will buy the vessel from the joint venture company at a price of USD 39 m illion and will receive back 50% of the proceeds. Joint venture partner, Oak Maritime (Canada) Inc., has agreed for delivery of the Daewoo - built vessel to Euronav full control in mid - November.
About Euronav
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. Euronav 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 a nd operated fleet consists of 56 double hulled vesse ls being 1 V - Plus vessel, 29 VLCCs (of which 1 in 50% - 50% joint venture), two VLCCs under construction which were recently acquired as resales of existing newbuilding contracts, 20 Suezmaxes, two Suezmaxes under construction and two FSO vessels (both owned in 50% - 50% joint venture). Euronav’s vessels mainly fly Belgian, Greek, French and Marshall Island flags.