VLCC Chartering, a 50-50 joint venture, will control a combined fleet of just under 60 large tankers, or slightly less than 10% of the 630-ship VLCC market.

It will open for business on Monday 6 October.

The two companies will jointly market the vessels through the new company run by staff seconded from TI’s London headquarters and Frontline Management in Oslo.

The partners say their aims are to create a large fleet offering more flexibility and options for cargo owners accessible via a single point of contact.

They