NYSE-Listed Tanker Companies International Seaways and Diamond S. Shipping to Merge

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    Greensea Systems
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    New York-listed tanker companies International Seaways, Inc. (NYSE: INSW) and Diamond S Shipping Inc. (NYSE: DSSI) have announced an all-stock merger that will create the world’s second largest US-listed tanker company by ship count.

    Under a definitive merger agreement which was unanimously approved by both Boards of both companies, INSW will merge with Diamond S in a stock-for-stock transaction in which INSW and Diamond S shareholders will own approximately 55.75% and 44.25% of the combined company, respectively.

    The combined company will have 100 vessels, shipping revenues of over $1 billion, over 2,200 employees, and an enterprise value of approximately $2 billion, according to a Read more by visiting gCaptain.

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