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Frontline and Euronav join forces in big tanker merger

Major tanker companies Frontline and Euronav announce a large-scale merger after a period in which tycoon John Fredriksen has been buying up in the Belgian carrier. Euronav CEO Hugo De Stoop will be CEO of the new company, which will be named Frontline.

Photo: euronav

Two of the world’s largest tanker shipping companies, Frontline and Euronav, join forces in a large-scale merger, thus confirming longtime speculation on such a move in press releases issued Thursday morning CET.

The merger between the two players will create a new behemoth in the tanker market with a total fleet of 69 very large crude carriers (VLCCs) in addition to 57 suezmax tankers and 20 LR2/aframax vessels.

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