John Fredriksen’s Frontline is poised to see earnings top $1bn per year after expanding its fleet, analysts believe.
The Oslo-listed company is spending $2.35bn on 24 modern VLCCs from Belgium’s Euronav in the biggest-ever tanker sale-and-purchase deal.
“This move is set to significantly boost earnings,” Clarksons Securities analysts led by Frode Morkedal said.
