Norway’s Pareto Securities has added its voice to an analyst chorus questioning the value of a potential merger of Euronav and Saverys family-backed green shipping operation CMB.Tech.

The investment bank’s analysts Eirik Haavaldsen and August Klemp believe the rival proposal for a tie-up between Euronav and John Fredriksen’s Frontline makes much more sense.

Pareto agrees with Euronav management in giving a firm “no” to what the analysts call a “strange CMB merger”.