New York-listed International Seaways has scored a $140m windfall by selling its 50% share in two FSOs to longtime partner Euronav.
The Manhattan-based owner wasted no time in doubling its quarterly cash dividend to $0.12 according to an announcement at the close of trading on Tuesday in New York.
The long-speculated deal was concluded at $300m, with $140m being Seaways take net of working capital and expenses.
