John Fredriksen claims he is personally happy with a deal that sees takeover target DHT buy 11 VLCCs from BW Group in a cash and stock transaction.

BW will overtake Fredriksen as DHT’s largest shareholder following the deal and the shipowner is now looking at alternative ways to grow his tanker company Frontline. 

Fredriksen told TradeWinds: “I am of the opinion now that we made an offer for DHT that was too high and that newbuildings are becoming a more and more attractive option.”