Newbuilding prices may have peaked, says Frontline

Firm asset prices make acquisitions attractive

Tony Gray - Wednesday 27 August 2008

Leading tanker operator Frontline believes the upward pressure on the sector’s newbuilding market is easing and that prices may have peaked.

The John Fredriksen company, which has a newbuilding programme worth nearly $2bn, also said corporate acquisitions had become more attractive as share prices have weakened while asset prices remain firm...

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