Tanker

Fredriksen and banks finance Frontline's massive VLCC purchase from Euronav

To secure the 24 VLCCs from Euronav, Frontline has borrowed just shy of two billion dollars from its banks and John Fredriksen himself. 
John Fredriksen's Hemen Holding lends more han half a billion dollars to Frontline for supertanker deal. | Photo: Ints Kalnins/Reuters/Ritzau Scanpix
John Fredriksen's Hemen Holding lends more han half a billion dollars to Frontline for supertanker deal. | Photo: Ints Kalnins/Reuters/Ritzau Scanpix
by IDHA TOFT VALEUR

Frontline’s fleet is about to balloon with 24 supertankers bought from Euronav – and the money comes from owner John Fredriksen as well as the carrier’s traditional lenders.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
    • Must be at least 8 characters, including three of: Uppercase, lowercase, numbers, symbols
    Must contain at least 2 characters
    Must contain at least 2 characters

    Get full access for you and your coworkers

    Start a free company trial today

    Share article

    Related articles

    Sign up for our newsletter

    Stay ahead of development by receiving our newsletter on the latest sector knowledge.

    Newsletter terms

    Front page now

    Further reading

    Jobs