Greece’s Omega Navigation Enterprises has sourced some more funding for a series of tanker newbuildings by selling a stake in its Glencore subsidiary.
The Nasdaq-quoted products tanker owner has given away a fifth of its holding in Megacore Shipping “at Omega’s original book cost”.
The sale, to the unidentified and “unaffiliated third party”, effectively dilutes the George Kassiotis-led company’s holding in the joint venture to 40% but crucially sees it retain full control of its own half of the business.
“The
