As mentioned in a couple of threads, there has been some major fleet developments wrt Frontline (FRO) - the company has agreed to sell 8 VLCCs and acquire 9 newbuilds But, the truth is, the sale of 8 VLCC by FRO is actually a significant part of a much larger event involving South Korean shipping entity, Sinokor. The latter has not just acquired 8 vessels from FRO. They have also acquired VLCCs from CMBT/Euronav, and INSW among others. In all, Sinokor have acquired close to 30 2nd hand VLCCs.
As the report shows, just a week with very active VLCC transactions. On a smaller scale, Trafigura were also involved with 3 VLCC acquisitions. Interestingly, there are 6 VLCCs orders this week (including a pair from Mr Fredriksen). Additional transactions in the other flavors of shipping - both 2nd hand tonnage and newbuilds.