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Euronav Confirms Sale of TI Topaz

Euronav Confirms Sale of TI Topaz
Belgium-based tanker owner Euronav has confirmed the sale of TI Topaz, one of its two oldest very large crude carriers (VLCCs).

As World Maritime News earlier reported, the 319,430 dwt ship was sold for USD 21 million.

Built by Hyundai Samho Heavy Industries in South Korea in 2002, the vessel was sold to Greece-based New Shipping, VesselsValue’s data shows.

Euronav said it will record in the current quarter a capital loss on the sale of TI Topaz in an amount of USD 21 million.

The vessel is expected to be delivered during the second quarter ahead of its third special survey which will be performed by its new owner.

“The TI Topaz joined the Euronav Fleet in the first quarter of 2005 and has contributed positively over the years to the results of Euronav especially during strong freight rate years such as 2005, 2006, 2008, 2010, 2015 and 2016,” Euronav commented.

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