Tanker shipping company Frontline, controlled by John Fredriksen, will not exercise its option to purchase four more ships from Trafigura. Instead, it will focus on expanding its VLCC fleet. Fredriksen recently said that the company is in talks to buy a larger VLCC fleet.
Investment bank ABG Sundal Collier has examined the most obvious acquisition targets for John Fredriksen's Frontline. Candidates include a company owned by a Norwegian investor, whom Fredriksen knows privately.