Navig8 has become the latest big name in shipping to buy into New York-listed tanker owner International Seaways. Within hours of it being revealed that Idan Ofer had bought a 5.05% stake in the Lois Zabrocky-led tanker outfit, it emerged that Navig8 had done similar, buying up 2.51m shares giving it a 5.12% stake.
Ofer and Navig8 join John Fredriksen in buying into the American tanker player.
Fredriksen, via various of his investment vehicles, emerged as International Seaways’ largest shareholder this April, forcing top management of the New York-based tanker firm to adopt so-called poison pill tactics, as such a shareholder rights plan to fight a takeover.
The share price of International Seaways has more than doubled so far this year, closing yesterday at $37.38.
