Euronav sells its oldest VLCC
Belgium-based Euronav NV, one of the world's leading independent tanker companies engaged in the ocean transportation of crude oil and petroleum products, 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.