Euronav announces capital increase for Maersk VLCC fleet acquisition
With reference to the press release of 5 January 2014 in which Euronav announced the acquisition of fifteen Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd . for a total acquisition price of USD 980 million , the company today announces that the meeting of shareholders has approved a USD 300,000,000 capital increase against issuance of 32,841,528 new shares, the company said in its press release.
About Euronav
Euronav is one of the world's leading independent tanker companies engaged in the ocean transportation and storage of crude oil and petroleum products. The company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on NYSE Euronext Brussels 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 th e major partners. Euronav’s owned fleet, consists of 35 double hulled vessels being 1V - Plus, 2 FSO vessels (both owned in 50% - 50% joint venture), 11 VLCCs of which 1 in joint venture (including the VLCC Luxembourg which is already sold but will be delivered between May 2014 and mid - June) and 22 Suezmaxes (of which 4 in joint venture). Deliveries of the rest of the Maersk VLCC fleet will increas e the Euronav tanker fleet by another 14 VLCCs. Euronav vessels mainly fly Belgian, Greek and French flag.
