Fredriksen Sees Crude-Tanker Market Recovery Two Years Away
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John Fredriksen, the world’s wealthiest shipping investor, anticipates no recovery in oil-tanker markets for at least two more years, a senior executive at one of his companies said.
Markets for transporting refined fuels and dry-bulk commodities have better prospects than crude carriers, Fredriksen said in an interview with Reuters yesterday. Jens Martin Jensen, chief executive officer of Frontline Management AS, a company that operates the billionaire’s tankers, confirmed the remarks by e-mail today.