Many big players hesitate to expand in a tank and dry bulk market that is not exactly bursting with the potential for massive growth. But not Frontline 2012. The John Fredriksen-owned shipping company announced yesterday that it plans to expand its fleet to become a leading player in the market for commodity transports over the next three years. The company is also aiming to become stock listed in the United States during the next 10-16 months. The strategy is simple, says Jens Martin Jensen, CEO of Frontline 2012, ShippingWatch.
"We want to make sure that we have the best possible tonnage in the market, which can sail on modern energy. We believe now's the right time to build a fleet. We're getting a lot of deliveries in the years to come, and we believe that the market will improve," says Jens Martin Jensen.