Darmin said that the OSS operation is currently being conducted at the Coordinating Ministry for Economic Affairs with the support of INSW
and other relevant ministries.
Stocks in the crude tanker group include International Seaways (INSW
), TEN, Ltd.
The six vessels, with an average age of 1.7 years, which INSW has agreed to acquire include five 2016-built VLCCs and one 2015-built VLCC, each constructed at Shanghai Waigaoqiao Shipbuilding Co., and are expected to be delivered to the company in 2Q18.
Following the closing of the transaction, INSW will reduce the average age of its fleet by over two years while expanding the size of its fleet by 30% on a DWT basis.
) has agreed to acquire six 300,000 DWT VLCCs from Belgium-based shipping enterprise Euronav NV for USD 434m, the company said.
(NYSE: INSW) has agreed to add two 2017-built Suezmax tankers to its fleet, bringing the total number of vessels to 57, the company said.
INSW said as it executes on growth and renewal strategy, it will target vessels of high quality and attractive value at this low point in the cycle.
The spin-off and timing will be subject to the satisfaction of various conditions and International Seaways has reserved the stock symbol INSW
on the New York Stock Exchange, while Overseas Shipholding will maintain its symbol.