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Frederiksen guarantees USD 200 million in Frontline

Frontline 2012 plans a USD 200 million capital injection, and John Fredriksen will put up a personal guarantee for the funds.

Through the company Hemen Holding, owned by John Fredriksen, the Norwegian shipowner is now putting up a personal guarantee for a USD 200 million capital injection to shipping company Frontline 2012.

The capital injection will be used to finance planned newbuildings in the joint venture Avance Gas Holdings, and the funds will also be used for covering future expansion in the new collaboration, according to the company.

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