International Seaways Acquires Bruton in $370 Million VLCC Deal

· Shipping · United States · Norway

New York-listed tanker owner International Seaways has agreed to acquire Oslo-listed Bruton Limited, backed by Tor Olav Trøim, in a deal valuing the VLCC company at around $370 million. The agreement, announced on Friday, will see the Lois Zabrocky-led group acquire Bruton's entire four-ship supertanker portfolio, adding four modern crude tankers. The deal comes as International Seaways reports sharply higher spot earnings entering the fourth quarter. The acquisition expands International Seaways' VLCC fleet amid strong tanker market conditions.

Why it matters：The acquisition consolidates VLCC ownership at a time of strong spot earnings, signaling continued confidence in tanker markets and potentially influencing vessel values and future consolidation.

Key points

  • Deal values Bruton at around $370 million.
  • Adds four modern crude tankers to International Seaways' fleet.
  • Announced as company reports sharply higher Q4 spot earnings.

Sources (original reporting)

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