John Fredriksen and International Seaways continue their battle

Accusations fly between Norwegian-Cypriot shipping magnate John Fredriksen, who has become the largest shareholder of International Seaways, and the US tanker carrier’s board of directors.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix/REUTERS / X02120

Accusations fly across the table in a stock exchange battle between Norwegian-Cypriot shipping magnate John Fredriksen and the board of US-based crude oil and product tanker carrier International Seaways, in which Fredriksen has become a major shareholder.

In an open letter, Fredriksen accuses the management of International Seaways of not creating sufficient value for the tanker company’s shareholders.

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