Norwegian shipowner John Fredriksen, who already owns 40% of another Frontiline tanker company, is investing in tankers, specifically Euronav.
As announced today by Euronav the fund C.K. Limited affiliated with John Fredriksen’s family acquired 12,106,000 Euronav shares or 5.502% of the 220,024,713 total Euronav shares.
According to the Euronav site, CK is the second largest shareholder after Euronav itself, which controls 8.338% of its shares.
Euronav controls a fleet of 80 tankers including 2 V-Plus vessels, 48 VLCCs, 30 Suezmaxes and participates through a joint venture in two oil storage and unloading vessels (FSO).
John Fredriksen’s investment in Euronav and tankers comes at a time when many analysts estimate that the industry is at its worst point in the cycle.
Finally, it should be noted that in the last month the share of Euronav has increased by 20.5%.
Latest News
Deadline for Postal Vote Registration Expires on Mon.
More than 157,000 Greek citizens had registered on the relevant online platform so far
Orthodox Palm Sunday Today; Shops Open in Greater Athens-Piraeus Area
Orthodox Holy Week begins on Monday, April 29, and ends on Sunday, Easter Sunday or Great and Holy Pascha (May 5)
Greek Retailers Remain Optimistic About Easter Shoppers’ Turnout
While stores are expected to be open on Sunday, April 28, the majority of Easter shoppers will likely do their shopping during the Holy Week, following the deposit of Easter bonuses
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%