Tanker tycoon John Fredriksen has bought into Euronav in deals that give him a holding worth $123m.

Euronav said Jersey-based CK Limited has acquired 12.1m shares or 5.5% in the Belgian VLCC and suezmax owner.

The company confirmed CK is linked to Fredriksen's private Seatankers Management in Cyprus and represents a direct investment by Fredriksen, the owner of tanker giant Frontline.

The stake makes CK the biggest shareholder apart from Euronav itself, which has 8.3%