Frontline Billionaire Bets Tankers Collapsing: Freight Markets
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The most bearish investor in the oil-tanker market right now may be the one with the most at stake.
At a time when analysts covering Frontline Ltd. expect shares of the world’s biggest supertanker operator to gain 1.7 percent in 12 months, its Chairman John Fredriksen says the biggest crash in the cost of ships has yet to happen. It will be within “a year or two” that the market “collapses,” the 67-year-old said in an interview in Oslo last month.