On the first day of Christmas my true love gave to me… a partridge in a pear tree, according to the ancient English carol, but here at Baird Maritime, that’s the cue for a dozen topical features on the offshore industry. Lovers of yuletide traditions – and even those of you who are checking your phone […]
Frontline
Frontline completes exit from Euronav as Belgian tanker major opens ‘new chapter’ under Alexander Saverys’ reins
Norwegian tanker major Frontline has completed the sale of its stake in Euronav cementing the […]
The post Frontline completes exit from Euronav as Belgian tanker major opens ‘new chapter’ under Alexander Saverys’ reins appeared first on Offshore Energy.
Aging VLCC sector bracing for a deficit of ECO ships
The global shipping industry is grappling with the pressing need to transition towards eco-friendly […]
The post Aging VLCC sector bracing for a deficit of ECO ships appeared first on Offshore Energy.
https://www.offshore-energy.biz/aging-vlcc-sector-bracing-for-a-deficit-of-eco-ships/
John Fredriksen’s Frontline Becomes Largest Pure Play Tanker Company
John Fredriksen’s Frontline has announced its acquisition of two dozen Very Large Crude Carriers (VLCCs) from Euronav, solidifying its position as the largest publicly-listed pure play tanker company at a…
https://gcaptain.com/john-fredriksens-frontline-becomes-largest-pure-play-tanker-company/
Frontline’s exit clears path for CMB’s bold decarbonization agenda for Euronav with ammonia and hydrogen at the helm
The latest agreement between Belgian shipping major CMB and its Norwegian counterpart Frontline signals […]
The post Frontline’s exit clears path for CMB’s bold decarbonization agenda for Euronav with ammonia and hydrogen at the helm appeared first on Offshore Energy.
CMB breaks deadlock as Frontline sails away with $2.35 billion VLCC bounty in Euronav deal
After months of tense negotiations and legal disputes, Compagnie Maritime Belge (CMB) has announced […]
The post CMB breaks deadlock as Frontline sails away with $2.35 billion VLCC bounty in Euronav deal appeared first on Offshore Energy.
Tanker shipping’s ‘odd couple’ prepares for divorce
Current ownership of Euronav (NYSE: EURN), one of the world’s largest tanker shipping companies, calls to mind a marriage of convenience doomed to fail from the day of the nuptials.
On one hand, there’s shipping tycoon John Fredriksen and his company Frontline (NYSE: FRO), with a combined 26% stake in Euronav and a focus on building scale in the tanker space. On the other is the Saverys family’s CMB, owning 23% and intent on diversifying Euronav into other shipping segments and developing...
https://www.freightwaves.com/news/tanker-shippings-odd-couple-prepares-for-divorce
Is the battle for Euronav nearing an end?
The Saverys family and John Fredriksen look to be nearing a resolution to their long running battle for control of the world’s largest NYSE-listed oil tanker operator, Euronav NV (NYSE: EURN).
Both Euronav and John Fredriksen-controlled Frontline today released statements confirming that Frontline and the Saverys family’s CMB NV are in discussions on an integrated solution to the strategic and structural deadlock in Euronav.
The potential transaction has the following interdependent elements:
- CMB...
https://www.marinelog.com/legal/shipping/is-the-battle-for-euronav-nearing-an-end/
Euronav Shares Skyrocket Amid Potential Deal Between Two Largest Shareholders
Shares of Euronav skyrocketed over 17% Thursday after the company confirmed that its two largest shareholders are working on solution to resolve their deadlock for control of the company. By…
https://gcaptain.com/euronav-shares-skyrocket-amid-potential-deal-between-two-largest-shareholders/
Frontline to acquire 24 VLCCs from Euronav for $2.35 billion as part of talks to end ‘structural deadlock’
Belgian tanker major Euronav NV confirmed the recent flurry of speculations engulfing discussions between […]
The post Frontline to acquire 24 VLCCs from Euronav for $2.35 billion as part of talks to end ‘structural deadlock’ appeared first on Offshore Energy.