A Trafigura executive has commented for the first time on the huge suezmax tanker deal worth up to $1bn that has given the trader a significant stake in Frontline.

The deal saw the John Fredriksen-backed shipowner buy up to 14 new scrubber-fitted suezmaxes with part payment in Frontline's New York and Oslo-listed shares. Trafigura now owns 8.48% of the Norway-based tanker owner.