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Clarksons downs Euronav as Frontline set to rocket up VLCC charts - TradeWinds

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Clarksons downs Euronav as Frontline set to rocket up VLCC charts | TradeWinds

European shipping analysts are echoing their US counterparts in rating a potential split of the Euronav fleet as a fair deal.

The Saverys family’s CMB is in talks to buy out the other big shareholder, John Fredriksen, whose Frontline is set to pay $2.35bn to acquire 24 Euronav VLCCs.

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The use of coal, a staple of heating and electricity-generation for decades, is in decline in the United States — supplanted by newly abundant production of natural gas — but is still dominant in some parts of the world. While economical, coal use is particularly problematic as international attention focuses increasingly on climate change.

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