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Tankers and Gas International Greece

Capital in line for $30m termination fee from tanker merger

Greek owner Evangelos Marinakis’ company has been managing 25 vessels under a deal cut when the Capital Product Partners tanker fleet was absorbed into Diamond S Shipping two years ago — and stands to gain a lump sum in compensation once the fleet is taken over by International Seaways

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Under the termination deal, which is conditional on the merger with International Seaways being consummated, Diamond S has agreed to pay Capital an amount of $30m, plus a further $4m will be held in escrow for payment on the transfer of management of certain specific Diamond S vessels

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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