Euronav boss Hugo De Stoop has rejected any suggestion of disloyalty as the company goes against the wishes of its biggest shareholder in seeking a tie-up with tanker giant Frontline.
Belgium’s shipowning Saverys family helped set up Euronav, but reduced their stake last year, before building it up again after Frontline backer John Fredriksen acquired a 10% holding.
The family’s CMB shipping company is opposing the merger.
