New York-listed International Seaways is selling off the six VLCCs it picked up from Belgian owner Euronav in a landmark 2018 deal in what is likely to be viewed as a move to generate liquidity in the current depressed tanker market, tanker market sources said on Monday.
Lois Zabrocky-led International Seaways has sold the sextet to financier Ocean Yield of Norway in a $380m deal, but will retain operational control of the Chinese-built units through 10-year bareboat charters, the sources told TradeWinds.
