New York-listed tanker company International Seaways has struck a deal to acquire Bruton Limited in a transaction valuing the company at approximately $370m.
From its part, Bruton confirmed an agreement to merge with International Seaways dated 16 October 2026.
Bruton Limited is a pure play VLCC company with 1 vessel operating and 3 vessels under construction at New Times Shipyard, with scheduled delivery between the fourth quarter of 2026 and the fourth quarter of 2027.
On the other hand, New York-headquartered International Seaways is engaged in the ownership and operation of crude, product, and chemical tankers around the world.
The transaction, announced on Friday, combines Bruton’s four VLCC vessels with Seaways diversified fleet of around 70 vessels across the crude and product segments.
The merger is expected to close following the Bruton special meeting of shareholders, subject to the satisfaction of other customary closing conditions.
Lois K. Zabrocky, president and chief executive officer of International Seaways, said: “We’re excited about the opportunity to expand and modernize our fleet through this accretive transaction with Bruton. The transaction underscores our disciplined approach to growth.
“Following completion of the transaction, Seaways will remain well-positioned to continue executing on our growth strategy, generating attractive returns and creating long-term value for our shareholders.”
