Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
EURONAV SELLS SUEZMAX FELICITY FOR OFFSHORE PROJECT
ANTWERP, Belgium, 15 January 2019 – Euronav NV
(NYSE: EURN
&
Euronext: EURN)
("Euronav" or the "Company") is pleased to announce that the Company has sold the Suezmax vessel
Felicity
(2009 – 157,667 dwt) to a global supplier and operator of offshore floating platforms. A capital loss on the sale of approximately USD 3.0 million will be recorded in Q4 2018. The cash generated on this transaction after repayment of debt will be USD 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 24
th
, 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."
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* *
Contact:
Brian Gallagher – Head of IR
Tel: +44 20 78 70 04 36
Email:
IR@euronav.com
Announcement of Q4 2018 results: Thursday, January 24, 2019
About Euronav
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav's owned and operated fleet consists of 2 ULCCs, 43 VLCCs, 25 Suezmaxes, 1 LR1 and 2 FSO vessels (both owned in 50%-50% joint venture).
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PRESS RELEASE
Tuesday 15 January 2019 – 8.00 a.m. CET
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Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.