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.
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.
Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.