Oil tanker companies Euronav and Gener8 have announced an all-share merger to create a “leading independent” operator with 75 vessels in service. In terms of revenues it is similar to recently-sold Maersk Tankers but is just 38% the size of MISC, the largest operator and owner of AET. The move looks partly defensive after Gener8 experienced its worst quarterly revenues since at least 2015 in the third quarter while Euronav’s revenues dropped 22%. Most tanker company management teams don’t expect a recovery until at least the end of 2018. While tanker rates have fallen recently, volumes h...