Former Frontline newbuilding dealmaker Jens Martin Jensen is returning to the John Fredriksen fold with a new role at Seatankers Management.
TradeWinds understands key staff have been informed about Jensen's appointment.
Norwegian sources confirmed Jensen would be joining Seatankers, the private group that looks after John Fredriksen's investments, but it is not yet clear what position Jensen will be taking up.
Rumours that he was speaking to Fredriksen about a return to his empire first surfaced in December. But these were said to be incorrect.
In August 2021, Tor A Svelland stepped down as chief executive of Seatankers. At the time, it was reported that Fredriksen had no immediate plans to replace him.
Rare return
Those in the industry who follow Frontline closely said it is rare to see someone return to the Fredriksen camp. But added that Jensen had been "much admired" during his previous stint at Frontline.
Fredriksen has been contacted about Jensen's appointment.
Jensen previously worked with Fredriksen's Frontline Management for 11 years, joining the tanker giant in 2004.
He rose to become chief executive, before stepping aside in 2014 when Robert Hvide Macleod moved into the hot seat.
Jensen then took on a responsibility for sale and purchase, newbuildings and maritime projects before leaving in 2015.
Deal-maker
During his 36-year career in shipping, Jensen has built up a formidable name as a dealmaker on newbuildings and in S&P, where he has built up a speciality with tankers. He has said he has negotiated more than 200 newbuildings.
He is known for being an exceptionally hard worker.
Speaking to TradeWinds in 2020 about the importance of being tuned in to the market, he said: "Either you are in it or you’re not in it. You have to have your finger on the pulse all the time."
Jensen started his career in shipping with AP Moller before he joined Island Shipbrokers in Singapore where Idan Ofer's Tanker Pacific was a key client.
After his Frontline years, he emerged at Pillarstone Europe and worked with Premuda.
Fredriksen's former partner, Tor Olav Troim, also brought in Jensen to work as a board member of his emerging dry cargo business, 2020 Bulkers. He stepped down from this role in late 2021.
Recent moves
From 2019, Jensen spent a year working as head of shipping at US-headquartered New Fortress Energy.
He then opted to move back to the UK partly due to Covid-19 travel restrictions but also because he had been offered the chief executive role at Kyriakou family-controlled tanker owner Athenian Holdings.
He joined Athenian on 7 September 2020 in what was a new management role with a brief to grow the family's shipping interests from its six non-scrubber-fitted VLCCs commercially managed under the Athenian Tankers UK name.
The company ordered four scrubber-fitted newbuildings in 2021. But he has since appeared to be in disposal-mode, concluding deals on both resales and secondhand tonnage.
