Bermuda-based shipping company Frontline, along with US firm Diamond S Shipping and Belgian international shipping firm Euronav have formed a joint venture (JV), Suezmax Chartering, to create a single point of contact for cargo owners to access a fleet of 43 Suezmax vessels, operated on the spot market.

For the JV, Frontline will provide 22 vessels, which includes 14 vessels on the water and eight new-builds as they are delivered.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The new JV will function from the current offices of Frontline, Diamond S Shipping and Euronav.

"I look forward to working with Diamond S and Euronav on this important venture."

Frontline management CEO Robert Hvide Macleod said: "I look forward to working with Diamond S and Euronav on this important venture.

"We share the common goal of providing safe, timely and high-quality service to our customers."

See Also:

Suezmax Chartering will help provide more flexibility and more options for cargo owners by offering a large fleet of vessels with the added advantage of lesser voyage expenses.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Euronav CEO Paddy Rodgers said: "All three companies’ management share a similar vision in bringing greater transparency to what is a highly fragmented industrial structure.

"We look forward to working closely with our partners in this initiative."

Currently, Euronav has a fleet of 55 vessels, including one V-Plus vessel, two floating, storage and offloading (FSO) vessels, 22 Suezmax and 30 very large crude carriers (VLCCs).

With a workforce of 2,847, the company provides complete shipping services in addition to its fleet of new large tankers.