Fredriksen has also put his own money to work by increasing his holding in a Golden Ocean bond, which analysts have interpreted as a positive development given the battered bulker market.
Frontline announced this morning it had bought a further $33.3m of its convertible bond, a move that raised its holding to $131.6m.
Erik Nikolai Stavseth of Arctic Securities explains there is now $93m outstanding on the bond.
“It’s
