Frontline boss outlines merger aims

Frontline boss outlines merger aims

Oslo: Providing value to shareholders is the main aim of the new merged Frontline, a senior official told Splash today.

Robert Hvide Macleod is the ceo of Frontline Management, which in turn manages the fleets of Frontline Ltd and Frontline 2012.

Last week John Fredriksen-led Frontline and its affiliate Frontline 2012 agreed to merge to create one of the biggest tanker operating companies in the world. Frontline will survive the merger, with Frontline 2012 becoming the company’s wholly owned subsidiary.

“Size in itself is not an ambition or goal, our goal is to provide value for our shareholders,” Macleod told Splash today. “Frontline is a $2bn market cap now and we are likely to grow and be the leading tanker company in the world,” he added.

Frontline has ridden the changing tanker waves remarkably well, fending off financially difficulties that threatened its very existence earlier this year to become on shipping’s hot stocks once again.

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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