Market Updates
Euronav, Frontline Merger to Create Largest Oil Tanker Shipper
Boris Petrov
07 Apr, 2022
New York City
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Two leading Europe-based independent oil tankers companies agreed to merge in a fragmented industry. Frontline and Euronav have been in discussion for at least five months and shipping rates are only now perking up after hitting the low in the second-half of 2021. The $4.2 billion merger will create the largest oil tanker company with 69 VLCCs and 57 Suezmaxes and 20 Aframax tankers.
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