John Fredriksen’s Frontline 2012 and Reederei Nord of Germany are heading a fresh investment rush for long-range-two (LR2) products-tanker newbuildings.
Frontline has returned to New Times Shipbuilding in China for the second time this year and booked two more 111,000-dwt vessels for delivery in 2017, bringing its total of LR2s on order there to six.
The LR2 sector is turning into shipping’s latest trend as investors’ heads are turned by a spot market that peaked at over $35,000 per day in the last quarter of 2014.
