ShippingWatch

Saverys family once again ups stake in Euronav

Belgian shipping family Saverys has bought additional shares in tanker carrier Euronav prior to Thursday’s AGM, which is set for a dramatic board election. Saverys aims to prevent a tanker merger.

Norwegian-Cypriot shipping magnate John Fredriksen (left) seeks to merge his company Frontline with Euronav, but Alexander Saverys of CMB means to prevent this. Both are major shareholders in Euronav. | Photo: Ints Kalnins/Reuters/Ritzau Scanpix and CMB

Well-known shipping family Saverys has continued buying shares in Euronav ahead of Thursday’s annual general meeting, which looks set for a dramatic board election due to the heralded merger with rivaling Frontline.

According to the latest filing with the US Securities Exchange Commission (SEC), shipping company CMB, owned by the Saverys family, now holds a stake of 18.48% in Euronav.

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