The New York-listed owner said all 1.05m shares had been snapped up at $13.50 each.

The cash is going on the purchase of products tanker resales or modern second-hand tonnage.

It has sold a total of 8.05m shares.

Morgan Stanley, Wells Fargo Securities and Clarkson Capital Markets were joint book running managers for the offering.

Co-managers included the likes of Evercore Group, Pareto Securities and ABN AMRO Securities (USA).