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Merger of International Seaways and Diamond S creates huge tanker company

International Seaways and Diamond S have agreed on a merger that will create the second largest tanker company in the US after Scorpio Tankers, with a market value of USD 2 billion and a fleet of 100 vessels.

Photo: PR / Diamond S Shipping

The hard-pressed tanker market is now leading to a greater consolidation that players in the market have long sought after.

International Seaways and Diamond S, both listed in the US, have agreed on a merger that will create the second largest tanker company in the US after Scorpio Tankers, with a market value of USD 2 billion and a total fleet of 100 ships.

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