Frontline’s controlling shareholder John Fredriksen has now been repaid all of the money he loaned the company to finance its $2.35bn purchase of 24 VLCCs from Euronav.
In its third-quarter report, the US and Oslo-listed shipowner said it had settled the outstanding amounts from a shareholder loan and a revolving credit facility.
The company also announced the completion of a $521m sale-and-leaseback transaction involving 10 suezmaxes with CMB Financial Leasing in China.
