The tanker operator and large-scale fish farmer is fond of fishing for salmon.
Frontline, which is one of the world’s largest tanker companies, will take delivery of six new VLCCs (Very Large Crude Carrier) during 2022. All of them are 300,000 tonnes. Adding two newbuildings delivered in 2019, the shipping company has eight tankers, all of which are named after salmon rivers.
Besides the obligatory “Front” first in the name, British and Norwegian salmon rivers follow in a row in the ship names: Tyne, Orkla, Gaula, Tana, Tweed, Alta, Nausta and Driva.
John Fredriksen, who is the main shareholder in both Frontline and Mowi, is known as a passionate salmon fisherman.
The six newbuildings, which will be delivered this year from Korean Huyndai Heavy Industries, were purchased in spring 2021 for $565.8 million. That gives a unit price of 94.3 million dollars.
According to the shipping newspaper Tradewinds, the price for a newly built VLCC in today’s inflated market has risen to $116 million (€113.5 million).
In total, the Frontline fleet consists of 71 tankers in the VLCC, Suezmax and Aframax classes. Frontline, which is listed on the stock exchange in Oslo, is registered in the tax haven of Bermuda.
Rather fishing pic.twitter.com/7z1L6GnpYV
— Spekulanten (@simpelspekulant) August 5, 2022