EURONAV: SALE RETURN RENTAL AGREEMENT FOR THREE VLCCS
Oslo (TDN Direct): Euronav has signed a sales and leaseback agreement for three VLCCs with Taiping & Sinopec Financial Leasing.
This is stated in a Euronav message on Thursday.
The three VLCCs are "Nautica", "Nectar" and "Noble" were all built at the Dalian shipyard in China in 2008.
The vessels were sold for a total net sum of $ 126 million, and the transaction will generate a gain of around $ 23.0 million, according to Euronav, which further states that after repayment of existing debt, the transaction generated $ 66.6 million in cash.
The vessels were delivered to their new owners on December 30, 2019.
It is further stated that Euronav has chartered back the three vessels on a 54-month bareboat contract at an average rate of $ 20,681 per day per vessel. Euronav has call options that can be exercised after the first year of the contract.