John Frederiksen's ADS Crude Carriers open to buy more ships

Norwegian tanker company ADS Crude Carriers will look favorably on a fleet expansion if the right opportunities arise. The company reports a weaker tanker market in the second quarter but is confident in a 2020 effect.

Photo: Euronav

Small Norwegian tanker company ADS Crude Carriers, partly owned by John Fredriksen, looks favorably on expanding its fleet, which currently consists of three VLCCs, if the right opportunities present themselves, the company informs in its first quarter financial report.

"Our first priority is on generating returns to shareholders from our current fleet of three VLCCs. We will be opportunistic in terms of fleet expansion, but will be disciplined and patient in terms of further acquisitions, only growing the business in the event that it provides added value for the shareholders," writes the management of ADS Crude Carriers in the report.

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