US-listed Knightsbridge Tankers is set to renew its fleet and is considering both newbuildings and resale contracts.
The company, which is managed by John Fredriksen-controlled Frontline, currently has a fleet of four modern capesize bulkers and five elderly VLCCs.
Chairman Ola Lorentzon insists that the company is not limited to investing in VLCCs or capesize bulkers. Given the fall in vessel values in the past couple of years, he suggests both newbuilding prices and resales “are starting to look interesting”.