Frontline to buy 24 VLCCs from Euronav amid expected tanker market upswing

Dirty tanker firm Frontline is to buy 24 modern VLCCs from Euronav, ending a drawn-out corporate dispute, as the company hopes for limited vessel supply and growing demand to lead to insufficient tonnage and high freight rates. Global oil demand is forecast to grow by 2.2 million b/d to 102.8 million b/d in 2023, reaching pre-pandemic levels for the first…Dirty tanker firm Frontline is to buy 24 modern VLCCs from Euronav, ending a drawn-out corporate dispute, as the company hopes for limited vessel supply and growing demand to lead to insufficient tonnage and high freight rates. Global oil demand is forecast to grow by 2.2 million b/d to 102.8 million b/d in 2023, reaching pre-pandemic levels for the first…  Read More