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Fredriksen fails to halt DHT’s takeover of BW’s VLCCs

Fredriksen fails to halt DHT’s takeover of BW’s VLCCs

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John Fredriksen’s bid to thwart DHT Holdings taking on the 11-strong VLCC fleet belonging to BW Group looks like it has grounded.

Fredriksen’s Frontline, which saw two bids for DHT fail earlier this year, has sought to lodge a third bid, while also trying to stop the BW sale, via an appeal to a court in New York.

However, Fredriksen’s last ditch attempt in this VLCC power play looks to have failed.

“We prefer not to comment on ongoing litigation, but I can advise that yesterday the Supreme Court of the State of New York denied all Frontline’s attempts to block the DHT/BW transaction,” BW Group CEO Carsten Mortensen told Splash today. 

“The transaction will proceed as planned and in fact the first ship is being transferred to DHT today, and others will follow in quick succession,” Mortensen added.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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