Tanker deal terminated

The Greek bias on HellenicShippingNews is quite apparent.

The merger between Bermuda-based Frontline (FRO) and Belgian tanker entity Euronav (EURN) has been terminated.

FRO – Termination of Combination Agreement with Euronav - Frontline

The combination would have resulted in a tanker powerhouse, in particular, in the VLCC and Suezmax segments. The market is currently upbeat on the Medium-sized conventional tankers (both dirty and clean), so that’s a plus for FRO. Not as much for EURN.


The aftermath of the canceled deal - FRO up big (over 20%), EURN down big (-15%). With the Saverys family holding 25% of EURN shares, I posed this question on SeekingAlpha - my understanding is that EURN’s management were in support of the deal, what happens to the EURN mgmt team (when the dust settles)?

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