John Fredriksen’s Frontline 2012 is looking at a healthy profit on 13 vessels before they have even left the shipyard following a deal this week that saw it sell five capesize newbuildings to sibling Knightsbridge Tankers.
The company is estimated to be logging a profit of up to $60m on the sale of the quintet at Shanghai Waigaoqiao Shipbuilding (SWS) in China to Knightsbridge, which is now well positioned to be the listed high-yield capesize vehicle for the group.
It
