Diamond S Shipping could be on track for sale to International Seaways

Listed tanker company Diamond S Shipping, which has a large tanker pool collaboration with Norden, is about to be taken over by competitor International Seaways, reports Tradewinds.

Photo: PR / Diamond S Shipping

The consolidation wave may now begin to roll across the product tanker market, which has long been pressured by an underdeveloped oil market and the impact of the Covid-19 pandemic on the wood economy.

According to Tradewinds, International Seaways is taking over Diamond S Shipping, which has a large tanker pool collaboration with Norden, in a major deal. Both companies are listed on the New York Stock Exchange.

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