Belgium’s Euronav is threatening legal action against Frontline for pulling out of their tanker tie-up.

The Hugo De Stoop-led shipowner escalated the war of words surrounding the collapse of the deal with a statement accusing the John Fredriksen-headed company of breaching the terms of the combination agreement signed in July last year.

Euronav said it had carried out further detailed considerations of Frontline’s termination letter with legal and financial advisors.