US tanker owner OMI Corp said today it had terminated the 'standstill and support' agreement signed with the Haji-Ionannou family that would have secured the latter’s 27.4% stake in Stelmar Shipping.

In a short statement, chief executive Craig Stevenson said: “In light of our recent acquisitions of vessels from Athenian Sea Carriers and Arcadia Ship Management, and our recently announced equity offerings, which have had a positive impact on OMI, we will no longer pursue a transaction with Stelmar under the specific terms outlined in the agreements with the Haji-Ioannou family.”

Had enough: Craig Stevenson
The Stamford-based company signed a deal with Stelmar founder Stelios Haji-Ioannou, brother Polys and sister Clelia in May as part of efforts to merge with Stelmar.

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