Oslo-listed Frontline's newbuilding programme is now fully financed after loans of $260m were agreed in October and November.

Earlier this year, the John Fredriksen company spent $566.8m on six resales believed to have been ordered by Greek shipowner Evangelos Pistiolis' Central Shipping.

The company had already financed the first two ships as part of a $247m loan package in August that also funded its $180m acquisition of two 2019-built VLCCs from Okeanis Eco Tankers of Greece.