Trading company Vitol has bought a 19.62pc stake in Latvian Shipping (LSC) from Estonian private-sector firm Fondo H Estonia for €22mn ($25.2mn), lifting Vitol’s stake to 69.56pc. The Latvian state retains a 10pc stake in LSC, with the remaining shares in free float. LSC has added the 157,000t Elandra Falcon to its fleet, which now consists of 25 tankers, with 16 owned directly and the rest leased.
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