International Seaways has scooped up six VLCCs from Gener8 Maritime at a historically low price in a deal that takes its fleet renewal efforts beyond $600m in 2017, executives say.
The transaction will not require the company to issue fresh equity and does not signal a clear-out is on the cards for its older VLCCs, they add.
International Seaways announced the $434m swoop earlier today in a move linked to Gener8’s merger with Euronav.
