Billionaire Fredriksen Spends $610 Million to Buy New Ships
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Shipping billionaire John Fredriksen spent about $610 million to buy new vessels and indicated he may make more purchases this year, a sign that a plunge in prices might be near an end.
Fredriksen ordered six oil-product tankers from STX Offshore & Shipbuilding Co. for 235.5 billion won ($210 million), the Changwon, South Korea-based company said today in an e-mailed statement. He also is chairman of Golar LNG Ltd., which placed orders worth $400 million with Hyundai Samho Heavy Industries Co. for two ships to haul liquefied natural gas and said it’s in talks on buying more.