Norwegian shipping giant John Fredriksen has broken ranks with other tanker owners and pencilled in a clutch of VLCC newbuilding orders at a Chinese shipyard.
The shipping tycoon, whose previous form for catching the market to snap up cheap newbuilding bargains and delivery slots prompted other owners to follow suit, has, through his company interests, inked a letter of intent (LOI) with China’s Jinhai Heavy Industry for two firm, 300,000-dwt crude oil tankers for delivery in 2018, brokers say.
