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Euronav to acquire ships from struggling OSG

Maersk Tankers' 15 VLCC's are not enough for Belgian Euronav, as the carrier now forms a new joint venture to acquire ships from American OSG, which has filed for Chapter 11 bankruptcy protection.

Photo: Euronav

Belgian Euronav is far from done expanding its fleet, and the carrier now targets ships in American tank carrier Overseas Shipholding Group (OSG), which is under Chapter 11 bankruptcy protection in the United States.

For this purpose Euronav has established a joint venture with GSO Capital Partners LP, a division under Blackstone, and together the two companies eye an opportunity to acquire "quality ships":

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