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Euronav sells elderly VLCC for $21m

 

Euronav has sold one of its oldest VLCC named TI TOPAZ for $21m, leading to a capital loss of $21m, an amount similar to the sale price. The 2002-built, 319,430-dwt VLCC is scheduled to be handed over to the new owner during the second quarter, ahead of its third Special Survey which will be performed by the new owner. Euronav said the capital loss will be recorded in this current quarter. “The book loss relates to the value of the ship in our books where assets follow straight line depreciation,” Euronav stated. The tanker owner said the ship TI TOPAZ joined its fleet in 2005 and has contributed positively over the years to the results of the company especially during strong freight rate years such as 2005, 2006, 2008, 2010, 2015 and 2016.

 

source : Seatrade Maritime News

 

          

 

 

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