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Analyst: Frontline could become world's second-largest tanker carrier

Frontline's raising of USD 100 million last week means the tanker carrier is ready for large-scale acquisitions. And by buying a major competitor, Frontline could become the world's second-largest tanker carrier, says DNB markets in an analysis.

Photo: Frontline

Tanker carrier Frontline, owned by shipping magnate John Fredriksen, raised USD 100 million in a share issue last week. The money will likely be spent on an acquisition, project analysts.

In an analysis, DNB Markets notes that Frontline could "do a BW LPG". Meaning that the tanker carrier could buy a major competitor, as BW LPG has recently done with Aurora LPG, and thus become a clear-cut top player in its segment.

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