John Fredriksen is working on an acquisition which if successful would clinch further expansion of Frontline's crude tanker fleet.
The Norwegian billionaire told TradeWinds that he and his team are in a dialogue to take over a rival fleet, though he declined to reveal any details.
“The process is ongoing and a transaction may take place within the next few months,” said Frontline’s chairman and largest shareholder
Frontline last week announced a deal to acquire 10 suezmaxes with four options from trading house Trafigura in a $675m cash and share transaction.
