Scorpio Tankers merges with competitor Navig8 and thus creates a new behemoth player in the product tanker sector.
The plan is characterized as "definitive" and means that the US and Monaco-based carrier will acquire Navig8's fleet of 27 tanker vessels. And the carrier will then issue new shares for USD 200 million, and will thus mark the realization of observations made by several market players as recently as last week in comments to ShippingWatch, namely that consolidation in the sector is needed to attract investors.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
Get full access for you and your coworkers.Start a free company trial today
Your trial for ShippingWatch has now started
With your free trial you get:
Full access to all locked articles on ShippingWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.
More from ShippingWatch
As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.