International Seaways to acquire Bruton VLCC fleet in $370m merger deal

International Seaways has entered into a merger deal valued at $370m to acquire control of Bruton’s VLCC fleet.

The transaction will see the US tanker owner issue shares as consideration for the acquisition. The vessels involved are valued at $909m, according to the available source information.

Context: Tankers Intelligence File · Tanker freight rates explained

International Seaways chief executive Lois Zabrocky said the agreement underscores the company’s “disciplined approach to growth”.

The source material does not provide further details on the number of VLCCs included, the transaction timetable, the share terms, or any conditions required for the merger to close.