Joe Brady

Holding of more than 20% is the result of debt-for-equity swap hammered out in June.

VLCC owner exchanges two-thirds of notes due to mature next fall for 2021 vehicle, raises $41.6m in fresh cash.

Analysts suggest Herbjorn Hansson’s suezmax company may be operating under pricey DNB facility or about to accept it, but no word from Norwegian owner.

Key to the six-VLCC Euronav purchase is the biggest name in asset management that has scored a double-digit interest rate on Seaways’ notes