The heat has been turned up on International Seaways’ management by the fresh public attack from top shareholder John Fredriksen, but it is not likely to burn hot enough to start a consolidation fire.
That is the nutshell view of the current kerfuffle between Fredriksen’s Seatankers Group and Seaways leadership that was revived in an open letter from the shareholder, as seen by veteran Stifel shipping analyst Ben Nolan in a client note on Tuesday.
