Norway’s ADS Maritime Holding has been encouraged by a buoyant tanker market to maintain its stake in a Taiwanese-owned VLCC.

It has declared an option to keep a 20% holding in Formosa Plastics’ 298,100-dwt FPMC C Melody (built 2011) for another year.

ADS bought the stake in May 2022, but did not name the ship at that time.

The tanker is operating in Navig8’s VL8 pool.