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Aker chairman to Norwegian offshore families: You spent too much

Aker Chair Kjell Inge Røkke thinks that Norwegian offshore families spent too much money on vessels at the wrong time. He writes this in a letter to shareholders in Aker Group, in which he praises John Fredriksen and airs the idea of selling off subsidiaries.

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Frontline hit by weakest tanker market in four years

Over the third quarter, John Fredriksen's tanker carrier Frontline rejected unreasonable offers from customers, especially for the large VLCCs, which had a negative impact on the result, says CEO Robert Hvide Macleod.

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