Norway’s ADS Maritime Holding has been encouraged by a buoyant tanker market to maintain its stake in a Taiwanese-owned VLCC.

It has declared an option to keep a 20% holding in Formosa Plastics’ 298,100-dwt FPMC C Melody (built 2011) for another year.

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ADS bought the stake in May 2022, but did not name the ship at that time.