Ravi Mehrotra's Foresight Group has confirmed its return to the VLCC market with the purchase of a tanker from John Fredriksen.
TradeWinds reported on Sunday that Foresight was closing in on the 306,000-dwt Front Circassia (built 1999) for a figure of around $18m.
In a statement today Mehrotra said the ship had now been secured and would be renamed Agra.
