Such a tie-up could result in a combined 30-strong VLCC fleet hauling crude to Japan.
JX is Japan’s largest oil company and Tonen has strong links to the ExxonMobil group.
JX owns six VLCCs but Tonen has none but the pair operate other ships on long-term charters from domestic suppliers.
The announcement of merger negotiations come as part of a consolidation process currently underway in Japan’s oil sector.
Independent
