Oslo and New York-listed tanker owner Frontline is quietly building up a substantial presence in the long-range-two (LR2) tanker market and by next year will have a fleet of 18 units.

TradeWinds is told that five of them have been fixed out on time charters.

“I have great faith in this segment, also because these ships are flexible and can trade both as clean and crude tankers”, says Robert Hvide Macleod, managing director of Frontline Management.