12/07/2022at 14:27

Belgian shipping family warns of loss risk resulting from Euronav-Frontline merger

Euronav’s largest stakeholder, Belgian shipping group CMB owned by the Saverys family, doesn’t support the share acquisition deal the tanker carrier has signed with its future merging partner, Frontline.

by ASTRID STURLASON

Belgian shipping group CMB, the largest stakeholder in tanker carrier Euronav, opposes the forthcoming merger with the latter’s major competitor Frontline.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

Euronav and Frontline take next step towards merger, agree on share purchase deal
For subscribers
Saverys family loses Euronav election: Shareholders want merger
For subscribers
Frontline continues buying up shares in Euronav
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Front page now

Carriers need to diminish their pollution in the coming years. As such, they are searching for a fuel to replace regular bunker oil. | Foto: Christian Charisius/AP/Ritzau Scanpix

Regulation

Methanol could become the preferred fuel for new vessels already in 2023

Carriers preferred methanol when ordering new green vessels in 2023. The fuel could overtake LNG already this year, DNV estimates.

For subscribers

Container

Maersk chair had nothing to do with carrier divestment due to double role

For subscribers

Foto: Thomas Peter/Reuters/Ritzau Scanpix

Bulk

Bulk operators are optimistic: "All trends are positive in China right now"

For subscribers

Bulk

Peter Twiss resigns as CEO of Oldendorff

For subscribers

Faig Abbasov, Director of Shipping at NGO Transport & Environment, doesn't think it possible to reach zero emissions by 2050 without ambitious intermediary targets. | Foto: Transport & Environment

Regulation

Green lobby after US climate proposal: "Europe has buried its head in the sand "

For subscribers

Foto: Damian Dovarganes/AP/Ritzau Scanpix

Ports

West Coast dockworker labor talks strained over lunch-break spat

For subscribers

Analyst predicts future merger of two container majors

Hapag-Lloyd and ONE are heading towards an inevitable merger in two to three years in the wake of disbanded container alliances, Lars Jensen forecasts.

For subscribers

Tanker

Hugo De Stoop accepts conflict could end with him losing his job

Euronav’s chief executive disagrees with major shareholder on the path forward. The CEO is at peace with the fact that he might not be CEO after the general assembly on March 23.

For subscribers

Hugo de Stoop, CEO of Euronav, and the company board receive crucial support in the conflict with a major shareholder. | Foto: Pr / Euronav

Tanker

Advisor supports Euronav in power struggle with major shareholder

ISS, an advisor to pension funds and other large investors, supports Euronav’s current board in the fight that is about to play out at the tanker operator’s general assembly.

For subscribers