Tanker giant Euronav has gained $9m from selling a veteran suezmax for scrap.
TradeWinds reported in June the 144,000-dwt Cap Romuald (built 1998) was being circulated for demolition and today a sale was confirmed.
It was the last of its 1990s-built suezmaxes in the company's fleet, which includes almost 30 of the tankers.
"The sale of the Cap Romuald is part of a fleet rejuvenation programme," Euronav said.
The shipowner has taken delivery of three new suezmax tankers, the Cap Pembroke, Cap Quebec and Cap Port Arthur, and is awaiting the delivery of a fourth.
All of the vessels were ordered against seven-year time-charter contracts with Valero.
Euronav sold the vessel hot on the heels of its takeover of Gener8 Maritime, which took its fleet to 76 operating tankers.
Post-deal Euronav has 43 VLCCs, 27 suezmaxes and two ULCCs, plus a couple of panamax tankers and a pair of FSOs.
Tanker demolition activity reached record levels in the first half of 2018.
Data from Clarksons showed 14.88 million dwt of tankers were sent for demolition in the period, of which VLCCs accounted for 56%.
This was the highest overall six-month figure for the wet market in the shipbroking giant’s records, which date back to 1970.
It exceeded the previous peak of 13.23 million dwt in the second half of 1985.
While a total of 8.33 million dwt of VLCCs were scrapped in the first half of this year, the suezmax figure sat at 1.9 million dwt.
This was the most capacity removed from the sector since the second half of 2001, when suezmaxes of 2.61 million headed for the breakers beaches, and the second highest on record, Clarksons' figures show.
