A capital loss on the sale of approximately US$3.0 million will be recorded in Q4 2018. The cash generated on this transaction after repayment of debt will be US$21.1 million. The vessel has been delivered to her new owners and will be converted into an FPSO and therefore leave the worldwide trading fleet. Euronav will announce Q4 results on Thursday January 24th, 2019.
Paddy Rodgers, CEO of Euronav said: “Once again Euronav has demonstrated a capability to generate value for our stakeholders as part of our approach on fleet renewal. This is the eighth vessel we have successfully introduced into an offshore project. It reflects our reputation for providing high quality operational tonnage for the offshore sector.”
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/15012019/euronav-sells-suezmax-felicity-for-offshore-project/