John Fredriksen's Frontline has revealed $247m of loans to finance its VLCC acquisition spree, but the shipowner is not paying a dividend after falling to a loss in the second quarter.
Earlier this year, the company spent $180m on two 2019-built ships from Okeanis Eco Tankers and $566.8m on six resales believed to have been ordered by Greek shipowner Evangelos Pistiolis' Central Shipping.
