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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.

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