EURONAV SELLS 2 AFRAMAX

Euronav NV (Euronext Brussels: EURN) today announced that the company sold two double-hull Aframaxes, the Fantasy (2002–106,560 dwt) and the Fidelity (2002–106,548 dwt), for an aggregate selling price of USD 137 million.

The capital gain of this sale transaction of about USD 44.5 million will be recorded in the second half of 2008 upon delivery of the ships to their new owner. The company had purchase options on the two ships which were on bareboat charter to Euronav since 2002.