Euronav, the acquisitive crude-tanker owner, aims to catapult itself into the ranks of the world’s top five players over the next two years by doubling its fleet to around 100 VLCCs and suezmaxes, making its scale attractive to long-term institutional investors.
But chief executive Paddy Rodgers has ruled out bidding for the rump of ageing internationally trading tankers controlled by bankrupt Overseas Shipholding Group (OSG), despite it this week launching a speculative joint bid for just five of its US rival’s newest ships.
“Overall,
