Pareto: Fredriksen could reconquer tanker market

The booming tanker market is causing analysts to speculate about a potential fast-paced IPO of John Fredriksen's two merged Frontline companies which could become a giant.

Photo: Richard Drew/AP/POLFOTO/arkiv

Norwegian-born shipowner and oil magnate John Fredriksen could basically establish a new US-listed tanker giant overnight by merging his two companies Frontline and the budding Frontline 2012. In addition, this comes at a time where the whole tanker market is booming with rates far above previous expectations and presumably a bright future to look forward to.

In any case, this is the estimate of Norwegian Pareto Securities in an update Tuesday, where Frontline is expected to completely redeem a convertible bond loan of originally USD 225 million, of which USD 93 million remain to be paid.

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