Belgian tanker owner Euronav has now spent $123m on its own shares since March.
The VLCC and suezmax company said on Monday it had followed up transactions worth $43m and $73m with further purchases totalling $7m.
The shipowner, controlled by the Saverys family, said it had acquired a total of 412,926 shares.
Euronav splashed €3.6m ($3.9m) on stock in Brussels, and $3.1m in New York.
The price averaged €15.50 and $16.92. The stock closed at $16.98 in the US on Friday.
Following the buybacks, Euronav now owns 25.54m of its shares or 11.61% of the outstanding amount.
When added to the Saverys’ holding of 80.52% through its shipping company Compagnie Maritime Belge and investment operation Saverco, the clan now has 92.23% ownership in Euronav.
The supervisory board has authorised bosses to repurchase up to 10m shares from 21 March to 28 June.
The shipowner can pay a maximum of $17.86 each.
Plenty more to come
The company still has 2.25m shares left of its authorisation.
In March, Euronav talked up healthy trading volumes after its free float declined further following the first buyback.
And management has maintained that stock exchange listings will be kept.
The company told TradeWinds the free float is limited in terms of the absolute percentage, but still substantial compared to other shipping companies.
Euronav has nearly 202m shares outstanding.
Investors sold about $1.2bn in Euronav shares to CMB in a mandatory offer for its shares that concluded in March.
Stockholders tendered more than 69.2m shares representing 31.5% of the outstanding stock.
