Euronav Sells VLCC to Grand China Logistics

23 November 2010 (Last Updated November 23rd, 2010 18:30)

Euronav has sold one of its double-hulled VLCCs to China-based Grand China Logistics for $54.75m. The 305,839dwt Pacific Lagoon will be delivered to the new owner in the first quarter of 2011. The capital gain on the transaction is about $22.1m. The sale is part

Euronav has sold one of its double-hulled VLCCs to China-based Grand China Logistics for $54.75m.

The 305,839dwt Pacific Lagoon will be delivered to the new owner in the first quarter of 2011.

The capital gain on the transaction is about $22.1m.

The sale is part of Euronav’s ongoing fleet renewal programme.