It is reported that John Fredriksen's oil tanker owner and operator Frontline has placed an order with Shanhaiguan Shipbuilding Heavy Industry to build two 81500 deadweight ton bulk carriers. These two new ships will be delivered in the third and fourth quarters of 2019, respectively. The specific price of the new ship has not been announced.

It is understood that these two bulk carriers are likely built for GoldenOcean Group (GOGL), a dry bulk shipping company under Fredriksen.

Frontline stated in its 2017 full year financial report that the company has over $300 million in working capital and will invest in enhancing the transportation capacity of its fleet.

At present, GOGL's fleet has 78 ships with a total carrying capacity of 10.7 million deadweight tons. In the first quarter of this year, GOGL completed its latest shipbuilding project and received 5 new ships.