Billionaire shipowner John Fredriksen has joined forces with trading giant Trafigura to form what will be one of the world’s largest bunker companies.
Fredriksen’s prime tanker company Frontline and bulker owner Golden Ocean will both hold stakes in the new venture, which will also cater to the tycoon's private fleet and Trafigura’s owned and time chartered vessels.
A non-binding term sheet was announced Tuesday with the clock ticking down to IMO 2020 emissions rules, which are expected by many to be a game changer for the marine fuels market.
