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Fredriksen makes his move and establishes global tanker giant

Norwegian-born John Fredriksen will merge his two tanker carriers, Frontline and Frontline 2012. The move comes at a time when most of the oil market is at a boiling point.

Photo: Richard Drew/AP/POLFOTO/arkiv

Shipping and oil magnate John Fredriksen is merging his two tanker carriers, Frontline 2012 and Frontline, according to a statement issued Thursday.

As such, John Fredriksen seems on track to reclaim his position as one of the world's leading shipowners in crude oil transports and product tanker - a move predicted by numerous analysts.

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