The long anticipated deal is the largest in deadweight terms in the sector since the financial crisis, surpassing Euronav’s acquisition of the Maersk fleet and Gener8’s merger with Navig8 Crude Tankers, Webber says.
However, he believes the deal is predominantly about taking the newer Frontline 2012 fleet to the US capital markets in a way that is both easier and cheaper than an initial public offering.
