John Fredriksen’s tanker giant Frontline is rolling out a $2bn-plus VLCC fleet revamp, selling older tonnage while lining up a slate of latest-generation newbuildings. The New York- and Oslo-listed owner has agreed to sell eight first-generation VLCCs, built between 2015 and 2016, for a total consideration of $831.5m. The vessels are set for delivery to an undisclosed owner during the first quarter of 2026. Frontline said it expects the transaction to generate net cash proceeds of about $486m, of which a first-quarter 2026 gain of between $217.4m and $226.7m is anticipated, depending on the timing of individual deliveries. Running alongside the sales, Frontline has confirmed deals to acquire nine latest-generation, scrubber-fitted VLCC newbuildings from an affiliate of Hemen Holding, Fredriksen’s private vehicle. The vessels carry an aggregate price tag of $1.224bn. Six of the VLCCs are under construction at Hengli Heavy Industry, with the remaining three being built at Dalian Shipbuilding. Deliveries are front-loaded, with seven vessels due in 2026 from the third quarter, followed by one unit in the first quarter of 2027 and the final ship in the second quarter of that year. Frontline said the transactions will lift its exposure to the VLCC segment without adding to overall vessel supply, as the newbuilds effectively replace older tonnage. Once completed, the company’s fleet will stand at 81 vessels, comprising 42 VLCCs, 21 suezmaxes and 18 LR2/aframax tankers. Chief executive Lars Barstad said the move allows Frontline to swap 10-year-old ships for more fuel-efficient, scrubber-equipped units at what he described as firm pricing, while also improving emissions performance. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsFredriksen Group Norway