John Fredriksen becomes major shareholder in Frontline's competitor

John Fredriksen, via CK Limited, buys shares in tanker carrier Euronav. Fredriksen is already a major investor in the tanker industry through his ownership of Frontline, and his interest in buying from competitors has caused concern before.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

Norwegian-Cypriot shipping magnate John Fredriksen has bought shares in tanker carrier Euronav, which could be considered the largest competitor of Fredriksen's own carrier Frontline.

Monday morning, the Belgian tanker carrier informed that CK Limited now owns 5.5 percent of the voting rights, making the Jersey-based company the tanker carriers' second largest shareholder, only surpassed by Euronav itself, the carrier confirms to ShippingWatch.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Extreme container rates can push shippers into bankruptcy

Extreme container freight rates might lead to a string of bankruptcies for companies without transport deals, says shipping analyst Lars Jensen in an analysis to Shippingwatch. Particularly smaller fashion brands are under pressure, according to trade organization.

Containers piling up at Port of Felixstowe

Efficiency is dropping at UK container port Felixstowe while containers are piling up, according to Vesselsvalue. Some carriers are now opting to divert their vessels away from the port.

Further reading

Related articles

Trial banner

Latest news

See all jobs