International Seaways Makes US$370M VLCC Play With Bruton Acquisition

Major tanker owner International Seaways is making a significant investment in the VLCC segment, having agreed to acquire Tor Olav Troim-backed Bruton and its four-vessel fleet. The transaction values Bruton at approximately 370 million dollars and covers two 2026-built VLCCs alongside two more scheduled for delivery next year. All four vessels were ordered at China’s New Times Shipbuilding.

 

Details of the Acquisition

 

International Seaways has agreed a deal. It will acquire Bruton. The target is backed by a known investor. It holds four vessels. These are VLCCs.

The transaction has a defined value. It approaches 370 million dollars. Two vessels are already built. Two more are due next year. A Chinese yard built them.

 

The Transaction Structure

 

The deal has a staged structure. A first exchange covers half the shares. These are acquired immediately. An agreement follows for the rest. This completes the acquisition.

The consideration is mostly shares. Many new shares will be issued. These form most of the payment. The remainder is cash. The structure is share-heavy.

 

The Approval Process

 

The deal requires approval. A shareholder meeting is planned. It falls at the end of October. The board has endorsed it. It deemed the terms fair.

The timeline is clear. Completion is expected in November. The target will then delist. It leaves its current exchange. This follows the merger.

 

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The Acquirer Perspective

 

Company leadership welcomed the deal. It expands the fleet. It modernises it too. The transaction is accretive. It supports growth.

Leadership cited strategic goals. The company stays well positioned. It pursues growth. It generates returns. It creates long-term value.

 

The Acquirer Background

 

The acquirer is a major owner. It runs around 70 vessels. These span crude and product tankers. The fleet is diversified. It is well established.

The acquirer has performed strongly. It reported record income. This came in mid-2026. Profit jumped sharply. Cash flow also hit records.

 

Significance of the Acquisition

 

The acquisition expands the VLCC fleet. It adds modern vessels. Two are newly built. Two more are due. It strengthens the segment.

The acquisition follows a demerger. The target split last year. Some vessels went elsewhere. These four remained. They now join Seaways.