Euronav secure a sale and leaseback agreement for four VLCC ships

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 Jan 5, 2017 – Euronav announced the sale and subsequent lease of four VLCC tankers in its fleet. The Very Large Crude Carrier were sold to corporate vehicles of the US Wafra Capital Partners Inc., a private equity company which belongs to government agencies of Kuwait, and specializes in the implementation of operations in conformity with Islamic finance. The transaction is valued at 186 million dollars.
The four ships, which were taken to bareboat charters by Euronav to five years to an average daily rate of $ 22,000, are the Nautilus, which was built in 2006 by Dalian Shipbuilding Industry Co. (DSIC), and Navarin, Neptun and Nucleus, all built in 2007 by the Chinese shipyard. At the end of the rental period tankers will be delivered to the new owners.