New York-listed Euronav has confirmed the sale of its oldest VLCC to Bob Burke-led Ridgebury Tankers.

The company said the 298,000-dwt Artois (built 2001) has gone for $22m, as first reported by TradeWinds this week.

Euronav will book a capital gain of $7.7m this quarter.

"The vessel is expected to be delivered to its new owners in early December. This is part of our ongoing wider fleet renewal programme and with other recent initiatives reduces further the average age of our fleet," the owner said.