Euronav – Sale of the VLCC “Ardenne Venture”

Sales and Purchases, Stock Markets — By on November 14, 2013 at 11:01 PM
The VLCC "Ardenne Venture"

The VLCC “Ardenne Venture”

ANTWERP, Belgium, 14 November 2013 – Euronav NV (NYSE Euronext Brussels: EURN) today announced that the company sold the double-hulled VLCC Ardenne Venture (2004 – 318,658 dwt), for USD 41.7 million. The vessel is owned by a 50/50 joint venture company with Wah Kwong Maritime Transport Holdings Ltd.

The capital gain on this sale of about USD 2.2 million (Euronav’s part) will be recorded at delivery. The net cash proceeds available to Euronav after the mandatory repayment of its debt obligation will be USD 10.2 million. The vessel is foreseen to be delivered to its new owner between mid December 2013 and the beginning of February 2014.

Fourth quarter results 2013: Tuesday, 21 January 2014
Final results 2013: Thursday, 27 March 2014
About Euronav
Euronav is one of the world’s leading independent tanker companies engaged in the ocean transportation and storage of crude oil and petroleum products. The company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on NYSE Euronext Brussels 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 fleet, consists of 36 double hulled vessels being 1 V-Plus, 2 FSO vessels (both owned in 50%-50% joint venture), 11 VLCCs (of which 2 in joint venture) and 22 Suezmaxes (of which 4 in joint venture). Euronav vessels fly Belgian, Greek and French flag. More detailed information can be found on the company’s website : www.euronav.com
Regulated information within the meaning of the Royal Decree of 14 November 2007.

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