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Fredriksen becomes major stakeholder in International Seaways ahead of potential Euronav merger

Norwegian-Cypriot shipping magnate John Fredriksen, who’s working to have Frontline merge with rivaling Euronav, has been buying a lot of shares in US tanker carrier International Seaways. Analysts are puzzled by the purchase.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

Norwegian-Cypriot shipping magnate and billionaire John Fredriksen isn’t wasting any time and has in the last weeks of April been buying up in US tanker carrier International Seaways.

These purchases were made through company Famatown Finance, part of Fredriksen’s Seatankers Group, and have occurred while Fredriksen is working to merge his tanker company Frontline with rivaling Euronav.

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