Chief executive Lars Barstad says Frontline can pounce for more vessels at any time, but is in no rush to complete deals.

Last year, the John Fredriksen-controlled company spent $566.8m on six VLCC resales believed to have been ordered by Greek shipowner Evangelos Pistiolis' Central Shipping, as well as $180m on two 2019-built VLCCs from Okeanis Eco Tankers.

Asked on an Arctic Securities webinar whether the company could acquire more ships this year, Barstad replied: "This is like a broken record for Frontline — we are always looking at opportunities."