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%.
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