Frontline 2012 has laid out its ambitious plans to grow in the tanker, dry-cargo and LPG sectors.
John Fredriksen-backed Frontline 2012 is in talks to take up to 24 newbuildings from its owner in the first growth spurt.
Frontline 2012 told investors: “The board will adopt a new strategy where Frontline 2012's activities are expanded to include all commodity shipping business segments hereunder dry bulk, LPG as well as tankers.
“The target is to within three years create a global leading commodity shipping company based on modern, high quality and fuel efficient tonnage.”
Frontline 2012 says 16 firm newbuildings presently in the hands of Fredriksen’s Hemen Holdings and a further eight options could be taken over soon.