Foresight reenters VLCC trades, taking elderly Frontline tanker

Foresight reenters VLCC trades, taking elderly Frontline tanker

With a view on India’s ballooning imports of oil Ravi Mehrotra’s Foresight Group has returned to the VLCC trades.

Foresight has struck a deal with John Fredriksen’s Frontline to snap up the elderly 1999-built Front Circassia for an undisclosed sum. The ship has been renamed Agra, and joins Foresight’s two aframaxes in its tanker fleet.

The ship will mainly be used to move oil from the Middle East to India. Indian oil imports are tipped by many analysts to grow at 10% a year in the short to medium term.

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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