Shares in John Fredriksen’s Frontline were running hot today rising by close to one fifth in Oslo.
The jump follows a strong showing from the tanker owner’s New York traded paper on Friday, analysts say.
Frontline’s Oslo shares were changing hands at NOK 23.40 each this afternoon, an 18.18% intraday climb.
Observers say the spike comes on the back of a strong showing from VLCC spot rates at the end of last week, with Arabian Gulf to Asia charters signed in the $70,000 per day region.
