John Fredriksen’s tanker giant Frontline is convinced its proposed tie-up with rival Euronav can prosper in an increasingly positive market.
Chief executive Lars Barstad said in Frontline’s first-quarter report that it remains too early to call the cyclical turn expected in shipping generally, and in the tanker market specifically.
“But the attractive fundamental picture remains as we face very limited new supply of oil-carrying capacity in the years to come,” he added.
