Fredriksen has ordered most of his vessels from yards in Japan and South Korea, while most of those he's bought in the second-hand market also have been Japanese- or Korean-built.
Now, for the first time, the Fredriksen-controlled Frontline Ltd is ordering two crude oil tankers in China.
The vessels, both so-called VLCCs of 300,000 dwt, will be built at the Nantong Cosco Kawasaki Heavy Industries in China. Delivery is expected in 2006.
The order is valued at USD 158.5 million, with Frontline agreeing to pay 10 percent of the order price upfront. The remainder will be due on delivery.
Frontline chief executive Oscar Spieler called the deal "a very attractive investment." The company is still considering whether it will sell the vessels on to a third party and then take them back on long-term charters.
Frontline Ltd, officially based in Bermuda, describes itself as the world's largest tanker company. Its modern fleet consists of 27 so-called Suezmax tankers and 35 VLCC tankers, totalling 15.1 million deadweight tons.
