Prices under pressure as Euronav sells jointly owned suezmax

Belgium's Euronav has confirmed the sale of a veteran suezmax for a small profit.

The New York and Brussels-listed company said the 159,000-dwt Bastia (built 2005) has gone for $20.5m as it continues to offload its older ships.

The vessel was owned by a joint venture that also comprised Ridgebury Tankers and Tufton Oceanic. The JV will bank a capital gain of $0.7m.