TIL shares were changing hands at NOK 76.50 ($12.66) a piece at lunch time, below the up-sized IPO price of NOK 78 apiece.

The owner, which raised $175m from its listing, has market capitalisation of NOK 2.94bn today.

Erik Nikolai Stavseth of Arctic Securities said: “With nine vessels currently on the water TIL is well positioned to take advantage of a firming market for sub-VL tankers.

“With