Scorpio Tankers has agreed to acquire Trafigura subsidiaries that have leasehold interests in 19 ships in an all-share transaction worth $803 million, reports Reuters.
Upswing in tanker marketThe deal is the latest move by commodities trader Trafigura to convert its investments in ship leases and ships that transport its commodities into shares of shipping companies.
The strategy is in expectation of an upturn in the tanker market in the coming months and an accompanying increase in the value of...
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