A Dutch subsidiary of energy giant Vitol, which has become the majority shareholder of Latvian Shipping Company (LSC), is looking at delisting the shipowner once its mandatory share buyout is complete later this month.
LSC is listed in Riga. It has 16 medium- and handy-sized tankers with an average age of nine years.
Energy trader Vitol has been beefing up its transport portfolio of late. Last month it signed shipbuilding contracts with South Korea’s Hyundai Heavy Industries (HHI) for the construction of two 84,000 cu m VLGCs.