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International Seaways closes on vessels purchase deal

Published 06/14/2018, 04:22 PM
© Reuters.  International Seaways closes on vessels purchase deal
INSW
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  • International Seaways (NASDAQ:INSW) closes on the acquisition of six 300K DWT VLCCs for a purchase price of $434M. The price includes assumed debt from Euronav.
  • The company says the six vessels have an average age of two years and include five 2016-built VLCCs and one 2015-built VLCC.
  • "The acquisition of these highly efficient modern sister ships underscores our success in executing on our stated strategy of growing and renewing International Seaways’ fleet during a low point of the cycle,” says International Seaways CEO Lois Zabrocky.
  • Source: Press Release
  • Now read: KNOT Your Usual MLP


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