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Arne Fredly sees many shipping companies as "pure fraud"

Norwegian shipping magnate Arne Fredly, who controls Hunter Group, among other businesses, calls it a "sad story" to be an equity investor in the shipping industry. He says that upwards of 80 percent of stock listed shipping companies are "pure fraud".

Frontline drops buying more Trafigura ships: Focus on supertankers

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.

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