With 24 of its VLCCs being transferred to John Fredriksen’s Frontline as part of a deal that resolved a long-running merger battle, Euronav NV (NYSE: EURN) has been rebuilding its fleet with a series of newbuilding orders that began in August when it announced an agreement purchase one VLCC newbuild from an undisclosed yard at a price of $112.2 million that included an option for a second. It exercised that option on October 12, when it looks to have taken an option on a third.
Yesterday, it...