Fredriksen expands tanker fleet with more newbuildings

Listed carrier Frontline acquires newbuildings with options for more from Korean Hyundai during a time with historically low prices in relation to the earning potential, says the CEO of the carrier.

BY OLE ANDERSEN

The John Fredriksen-controlled tanker carrier Frontline has acquired two VLCC newbuildings under construction at Korea's Hyundai Heavy Industries for a price of USD 84 million each. The two vessels are scheduled for delivery in September and November, Frontline writes in a brief to the stock exchange.

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Fredriksen expands tanker fleet with more newbuildings

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Frontline soars in Q1 and eyes strong market ahead

Three tanker majors join forces in new pool

World's biggest VLCC owner is back in business

Sign up for our newsletter

Front page now

Maritime & Merchant notes fierce competition in loans for shipping

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Norwegian car carriers bag multi-year contracts

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Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

Jobs