Tanker tie-up takes 10% market share

A new joint-venture (JV) in the tanker market could end up controlling more than 10% of the global VLCC fleet, taking the actual active fleet in your count, according to the latest weekly report from London-based shipbroker, Gibson.



This new venture, VLCC Chartering, is between Frontline and Tankers International (TI).



Gibson added that “one source stated that Frontline will make 25 VLCCs available to the JV, while the TI lists 37 VLCCs under its control”.



This is a potential fleet of 62 tankers trading spot – and the global VLCC tanker fleet currently standing at 625.