The attempted Frontline-Euronav merger was an “unprofessional” boardroom battle driven by ego and the defence of shipping fiefdoms, respected shipowner Peter Georgiopoulos has told TradeWinds.
The New York-based shipping entrepreneur said the industry’s push for consolidation in the fractured tanker sector had repeatedly foundered when senior figures faced losing their jobs.
John Fredriksen’s Frontline attempted to take over its fellow tanker-owning giant Euronav last April in a $4.2bn
