Is New York-listed International Seaways closing in on a long-rumoured sale of its floating storage joint venture with Euronav?
It might appear that way from a close reading of a newly filed proxy statement supporting its pending acquisition of fellow US owner Diamond S Shipping.
Lois Zabrocky-led Seaways has negotiated an option to change the merger terms in the event it sells all or part of the stake in the two units, enabling it to pay a maximum of $25m in a special dividend to shareholders.
