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Fredriksen's merger-ready tankers soar in Q3

Frontline and Frontline 2012, expected to be merged into one entity in a matter of days, benefited strongly from the booming tanker market in the third quarter of the year. The strong trends look set to continue, says CEO.

Photo: Richard Drew/AP/POLFOTO/arkiv

Shipowner John Fredriksen's two tanker units, Frontline and Frontline 2012, are expected to be fully merged into one large-scale tanker carrier on November 30 2015 when the two companies' shareholders meet to complete the process.

And the resulting tanker behemoth, operating under the Frontline banner, will be able to set forth in a historically strong tanker market characterized by positive developments that look set to continue for the time being, notes Robert Hvide Macleod, who serves as CEO of both tanker units, in Frontline and Frontline 2012's third quarter interim reports on Tuesday.

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