South Korea: Fredriksen to Acquire New Vessels for USD 610 Mln

John Fredriksen, the world’s 72nd-richest person according to Forbes magazine, has bought new vessels worth approximately $610 million. There are also clear indications that he might place new orders in the upcoming period. Six oil-product tankers were ordered from STX Offshore & Shipbuilding Co. for 235.5 billion won ($210 million).

These tankers are known as medium-range vessels, each with a carrying capacity of about 50,000 deadweight tons, hauling refined oil products such as jet or diesel fuel. Golar LNG Ltd. (GOL), whose chairman is Fredriksen, ordered $400 million worth two ships to haul liquefied natural gas from Hyundai Samho Heavy Industries Co. There is a great possibility that an order for two more ships will be placed.

The shipping billionaire is planning to buy tankers as soon as vessel prices fall. This is something he strongly believes in.

Shipbuilding Tribune Staff, February 15, 2012

Posted on February 15, 2012