Euronav is buying a ULCC from International Seaways and is keeping an eye out for further consolidation opportunities once it ties up a takeover of Gener8 Maritime.
New York-listed Euronav is set to pay $32.5m for the 441,600-dwt Seaways Laura Lynn (built 2003) and will be handed over as soon as the seller takes in six VLCCs from Gener8.
Analysts at Clarksons Platou Securities said the ULCC transaction was a sign of Euronav’s confidence in the market.
