Euronav Snaps up Six Metrostar VLCCs, Ghandoor Takes Two

In a transaction that eliminates one company as a candidate for an IPO but adds another, Theodore Angelopoulos’ Metrostar is rumored to have netted around $200 million in profit in a massive sale of eight VLCCs at an average price in the range of $127 million. Two of the ships went to Lebanese-owned, Greek-based VLCC-player Ghandoor, which has another four newbuild VLCCs on order with Daewoo for delivery in 2006-2007. The other six tankers went to recently-listed, tanker-focused Euronav – a key member of the Tankers International pool.

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