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Frontline unsuccessfully courted DHT for more than a year

Tanker:

John Fredriksen's Frontline tried for more than a year to partner with DHT Holdings before the tanker carrier instead took off with Carsten Mortensen's BW Group. Track the development from the first approach to the final rejection here.


BY LOUISE VOGDRUP-SCHMIDT
Published 21.04.17 at 15:48

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Most read Tanker

Fredriksen continues his crusade to become top supertanker player

Fredriksen.jpg Tanker:

Shipping magnate John Fredriksen continues the battle to take over DHT as the move could give his tanker carrier Frontline a superior position in the VLCC market. "Size does matter," one analyst tells ShippingWatch. "Very insufficient offer," says DHT.

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New York-listed Scorpio Tankers booked a first quarter result this year, which shrank since last year, while revenue landed in line with expectations. Second quarter looks much better, says one analyst.

Fredriksen makes new attempt to buy DHT

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John Fredriksen's Frontline has sent a new offer to DHT in which the company proposes a merger of Frontline and DHT. "We are convinced that the proposed new combination of Frontline and DHT will maximize value for both sets of shareholders," writes Frontline. DHT Holdings describes the new bid as "unimproved."

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Tanker:

Lower revenue and earnings for Euronav in the first quarter this year, and the carrier stresses that 2017 as a whole could be challenging for the tanker market.

Stena Bulk: At least two tough years ahead for tanker

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Tanker:

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Current front page

Fredriksen continues his crusade to become top supertanker player

Fredriksen.jpg Tanker:

Shipping magnate John Fredriksen continues the battle to take over DHT as the move could give his tanker carrier Frontline a superior position in the VLCC market. "Size does matter," one analyst tells ShippingWatch. "Very insufficient offer," says DHT.

Maersk Line: 2017 off to a good start

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2017 has already been hailed by Maersk Line and several of its biggest competitors as the year in which the miserable results from last year will be replaced by a de-facto turnaround. Things have developed positively so far, Maersk Line's head of Asia and the Pacific tells ShippingWatch.

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Suppliers:

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Market conditions remain challenging, but activity on the supply side is improving, notes Subsea 7 in the carrier's interim report.

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