Frontline-Euronav merger will create one of the world’s largest privately-owned tanker fleets
Market vagaries may still buffet merging tanker heavyweights
Frontline-Euronav deal will create one of the world’s largest tanker fleets, but price-setting power may remain outside the combination’s reach
The merger of New York-listed shipowners Euronav and Frontline will create one of the world’s largest privately-owned tanker fleets and the biggest in the very large crude carrier (VLCC) and Suezmax sectors. Shareholders from both companies have approved the deal, which will combine the shipowners under the name Frontline. Euronav and Frontline’s shareholders will own around 59pc and 41pc respectively of the new company, which will have a market cap of c.$4.2bn. The merger “would establish a market leader” in the tanker sector, says Frontline CEO John Fredriksen, as well as bring “significant synergies... and increase fleet utilisation”. The combined fleet will comprise 67 VLCCs, two of the
Also in this section
21 March 2025
Two recent developments raise the prospect of a revival in northern Iraqi oil and gas fortunes, but familiar obstacles could thwart momentum
20 March 2025
As cash-strapped Western governments commit to substantially raising defence expenditure, a similar dynamic is playing out in Saudi Arabia’s oil and gas sector, as Saudi Aramco maintains it heavy capex push despite reduced revenues
20 March 2025
Tariffs, sanctions and trade conflicts are upending the oil market, impacting crude differentials and shipping rates and creating uncertainty
20 March 2025
While advanced economies debate peak fossil fuel demand, billions of people still lack access to reliable and affordable energy, especially in the Global South
