EURONAV SELLS ITS OLDEST VLCC, THE ‘SAVOIE’

Euronav NV (Euronext: EURN) today announced that the company sold the double-hull VLCC Savoie (1993–306,430 dwt), for USD 82.2 million.

Euronav NV (Euronext: EURN) today announced that the company sold the double-hull VLCC Savoie (1993–306,430 dwt), for USD 82.2 million. The capital gain of this sale transaction of about USD 44.4 million will be recorded in the second quarter of 2007. The vessel is foreseen to be delivered to its new owner in early June of this year. This sale is part of the ongoing fleet renewal program of Euronav and the strategy to maintain a young fleet.