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.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

3i buys AMP out of Esvagt

Private equity firm 3i, which owns half of carrier Esvagt, has agreed with the company's second owner, AMP Capital, to take over all of Esvagt for GBP 268 million, making 3i the sole owner. The transaction is expected to close in the first quarter of 2022.

Further reading

Related articles

Latest news

See all jobs