Frontline Drops DHT Pursuit and Steers Away from Deals

By Ole Petter Skonnord OSLO, June 26 (Reuters) - Oslo-listed oil tanker firm Frontline has abandoned its pursuit of New York-listed rival DHT Holdings and is not working on any alternative acquisitions, Frontline's CEO told Reuters on Monday. DHT last month rejected a fifth takeover proposal from billionaire shipping tycoon John Fredriksen's Frontline, calling the $500 … [Read more...]

Fredriksen Expects Rise In Storage Of Oil On Tankers

by Ole Petter Skonnord (Reuters) Tanker firm Frontline, controlled by billionaire investor John Fredriksen, expects a growing number of supertankers to be used for storing crude in anticipation of higher oil prices, its chief executive told Reuters on Friday. While none of Frontline's own vessels are currently used for this purpose, independent shipbrokers estimate that … [Read more...]

DHT Rejects Another Bid by Rival Frontline

OSLO, May 7 (Reuters) - Tanker firm DHT Holdings rejected on Sunday a fifth takeover proposal from shipping tycoon John Fredriksen's Frontline, calling the $500 million all-share bid "woefully inadequate". Frontline's plan to form the world's largest private oil tanker group was first revealed in January when DHT said it had received an unsolicited offer, which it later … [Read more...]