John Fredriksen and Frontline’s lenders have made available nearly $2bn to fund the delivery of 24 modern VLCCs bought from Euronav.

The deal to acquire the ships was struck in October for $2.35bn.

The Oslo-listed company sold 13.7m Euronav shares to Compagnie Maritime Belge for $252m to end a strategic impasse between Fredriksen and the Saverys family.