Pursuits
Billionaire Fredriksen Says Tankers to Lead Shipping Revival
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The market for oil and fuel tankers will be the first to recover from a glut in the shipping industry, reviving over the next 15 to 20 months as international trade picks up, billionaire John Fredriksen said.
The shipping magnate, who controls a fleet of oil, bulk and gas carriers through publicly listed companies such as Frontline Ltd., Golden Ocean Group Ltd. and Golar LNG Ltd., said in an interview in the Norwegian capital yesterday that he favored oil product tankers over the biggest crude carriers, for which demand would take more time to rebuild.