Norway’s domestic wealth fund raised its holding in John Fredriksen’s Frontline last year, when the tanker giant engaged in a titanic takeover battle with Euronav.
Frontline was in the top 10 contributors in the fund’s stock portfolio in 2023.
Kjetil Houg, chief executive of Folketrygdfondet, which manages the fund, told TradeWinds: “We do not comment on single companies, but in general, the upturn in the shipping sector has been driven by macro factors, which has provided a positive momentum.
