Euronav NV agrees with Hyundai Heavy Industries to defer the delivery of two VLCC ex - yard resale vessels
Euronav NV has agreed with Hyundai Heavy Industries shipyard in South Korea to defer the delivery of the two VLCC ex - yard resale vessels it recently purchased to the first quarter of 2017, the company said in its press release. These vessels, previously expected to be delivered between October and November 2016, will now be delivered in January 2017.
Pursuant to these deferred deliveries , the amount of approximately USD 97 million that was previously expected to be paid to the shipyard during the fourth quarter of 2016 is now expected to be paid in the first quarter of 2017.
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 unde r 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 57 double hulled vessels being 1 V - Plus vessel, 30 VLCCs (of which 1 in 50% - 50% joint venture), two VLCCs under construction which were recently acquired as resales of existing newbuilding contracts, 20 Suezmaxes, two Suezmaxes under construction and two FSO vessels (both owned in 50% - 50% joint venture). The company’s vessels mainly fly Belgian, Greek, French and Marshall Island flags.
